Chain-Type Quantity Index for Real GDP: Social Assistance (624) in Hawaii
HISOCASSQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
103.88
Year-over-Year Change
4.73%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Social Assistance (624) in Hawaii measures the inflation-adjusted output of the social assistance sector in Hawaii's economy. This metric is important for economists and policymakers to understand trends in a key service industry.
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 tracks the real (inflation-adjusted) change in GDP attributed to the social assistance sector, which includes individual and family services, community food and housing, and vocational rehabilitation services. This data provides insight into the health and growth of Hawaii's social services industry.
Methodology
The index is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to measure real GDP at the state level.
Historical Context
Monitoring this index can inform economic and social policy decisions related to the social assistance sector in Hawaii.
Key Facts
- Hawaii's social assistance sector accounts for around 2% of the state's total GDP.
- The index uses 2012 as the base year with a value of 100.
- Hawaii's social assistance index has grown by 12% since 2015.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Social Assistance (624) in Hawaii measures the inflation-adjusted output of the social assistance sector in the state's economy.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the health and growth of Hawaii's social services industry, which can inform economic and social policy decisions.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to measure real GDP at the state level.
Q: How is this trend used in economic policy?
A: Monitoring this index can inform policy decisions related to the social assistance sector in Hawaii.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis with a lag of several months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Social Assistance (624) in Hawaii (HISOCASSQGSP), retrieved from FRED.