Chain-Type Quantity Index for Real GDP: Administrative and Support Services (561) in Hawaii
HIADMINSUPQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
90.64
Year-over-Year Change
5.39%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Administrative and Support Services (561) in Hawaii measures the inflation-adjusted output of the administrative and support services sector in the state's economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This index tracks changes in the real, or inflation-adjusted, gross domestic product (GDP) of the administrative and support services industry in Hawaii. It provides insight into the productivity and growth of this key service sector within the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
Policymakers and economists use this index to monitor the health and performance of Hawaii's administrative services industry.
Key Facts
- Hawaii's administrative services industry accounts for over 10% of the state's GDP.
- The index uses 2012 as the base year for measurement.
- The index has shown steady growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted output of the administrative and support services sector in Hawaii's economy.
Q: Why is this trend relevant for users or analysts?
A: This index provides valuable insight into the productivity and growth of a key service industry within Hawaii's economy, which is important for policymakers and economists to monitor.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to track the performance and health of Hawaii's administrative services industry, which can inform economic policies and decisions.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Federal Reserve, but there may be some delays in reporting compared to more immediate economic indicators.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Administrative and Support Services (561) in Hawaii (HIADMINSUPQGSP), retrieved from FRED.