Chain-Type Quantity Index for Real GDP: Retail Trade (44-45) in Hawaii
HIRETAILQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
107.87
Year-over-Year Change
26.43%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Retail Trade (44-45) in Hawaii measures the real output of the retail trade sector in the state. This trend is an important indicator of economic activity and consumer spending in Hawaii.
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
The Chain-Type Quantity Index for Real GDP: Retail Trade (44-45) in Hawaii tracks the volume of goods and services produced by the retail trade sector, adjusted for inflation. It provides insight into the health and growth of the state's consumer-driven economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using the chain-type quantity index methodology.
Historical Context
Economists and policymakers use this measure to assess the strength of Hawaii's retail industry and make informed decisions about economic policy.
Key Facts
- The index is based on 2012 as the reference year.
- Retail trade accounts for around 15% of Hawaii's total GDP.
- The index has shown steady growth in recent years.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Retail Trade (44-45) in Hawaii measures the real, inflation-adjusted output of the retail trade sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This measure provides important insights into the health and growth of Hawaii's consumer-driven economy, which is crucial for economic policymaking and investment decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using the chain-type quantity index methodology.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this measure to assess the strength of Hawaii's retail industry and make informed decisions about economic policy, such as stimulus measures or tax policies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Retail Trade (44-45) in Hawaii (HIRETAILQGSP), retrieved from FRED.