Chain-Type Quantity Index for Real GDP: Private Industries in Hawaii
HIPIQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
104.72
Year-over-Year Change
19.01%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Private Industries in Hawaii measures the real output of private industries in the state, adjusting for inflation. This key economic indicator provides insight into the overall health and growth of Hawaii's private sector.
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 the real GDP, or economic output, of private industries in Hawaii. It is a valuable metric for understanding the state's economic trends and performance, as private industry activity is a major driver of broader economic growth.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to adjust for inflation.
Historical Context
Policymakers and analysts use this index to gauge the strength of Hawaii's private sector and make informed decisions about economic policies and investments.
Key Facts
- Hawaii's private industries account for over 80% of the state's real GDP.
- The index has a base year of 2012 = 100.
- This metric is released quarterly by the U.S. Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Private Industries in Hawaii measures the real, inflation-adjusted output of private industries in the state.
Q: Why is this trend relevant for users or analysts?
A: This index provides valuable insight into the performance and growth of Hawaii's private sector, which is a key driver of the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to adjust for inflation.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to gauge the strength of Hawaii's private sector and make informed decisions about economic policies and investments.
Q: Are there update delays or limitations?
A: This metric is released quarterly by the U.S. Bureau of Economic Analysis, so there may be a short delay in the most recent data.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Private Industries in Hawaii (HIPIQGSP), retrieved from FRED.