Chain-Type Quantity Index for Real GDP: Petroleum and Coal Products Manufacturing (324) in Hawaii
HIPETCOALMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
54.42
Year-over-Year Change
-8.57%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Petroleum and Coal Products Manufacturing (324) in Hawaii measures the inflation-adjusted output of the petroleum and coal products manufacturing industry in the state.
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 provides a detailed view of the production activity within a specific manufacturing subsector of Hawaii's economy. It is a valuable indicator for economists and policymakers to assess industry-level trends and performance.
Methodology
The data is calculated based on GDP data collected by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is used to track the health and competitiveness of Hawaii's energy production and refining industries.
Key Facts
- Hawaii is a major hub for petroleum refining and coal processing.
- The index uses 2012 as the base year for calculating real GDP.
- This metric is seasonally adjusted to account for cyclical fluctuations.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Petroleum and Coal Products Manufacturing (324) in Hawaii measures the real, inflation-adjusted output of the petroleum and coal products manufacturing industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and competitiveness of a key manufacturing sector in Hawaii's economy, which is vital for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on GDP data for the petroleum and coal products manufacturing industry in Hawaii.
Q: How is this trend used in economic policy?
A: This index is used by economists, policymakers, and industry analysts to monitor the health and productivity of Hawaii's energy production and refining sectors, which have important implications for the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and potential revisions as the broader GDP statistics reported by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Petroleum and Coal Products Manufacturing (324) in Hawaii (HIPETCOALMANQGSP), retrieved from FRED.