Chain-Type Quantity Index for Real GDP: Miscellaneous Professional, Scientific, and Technical Services (5412-5414, 5416-5419) in Iowa
IAMISCPROQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
144.37
Year-over-Year Change
75.46%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Miscellaneous Professional, Scientific, and Technical Services in Iowa measures the inflation-adjusted economic output of this industry sector 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 tracks the real volume of economic activity in Iowa's professional, scientific, and technical services industries, which include legal, accounting, engineering, and consulting services. It is used by economists and policymakers to assess the health and trends within this important service sector.
Methodology
The index is calculated using GDP data collected by the U.S. Bureau of Economic Analysis.
Historical Context
This metric provides insight into business and consumer demand for professional services in Iowa.
Key Facts
- The index is measured on a 2012 base year.
- This sector accounts for over 8% of Iowa's total GDP.
- The index has grown by 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Miscellaneous Professional, Scientific, and Technical Services in Iowa measures the inflation-adjusted output of this industry sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the health and performance of Iowa's professional services industries, which are a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Economic Analysis using GDP data for the specified industry sectors in Iowa.
Q: How is this trend used in economic policy?
A: This index is monitored by economists and policymakers to assess business and consumer demand for professional services, which has implications for investment, employment, and economic growth in Iowa.
Q: Are there update delays or limitations?
A: The data is published quarterly by the Federal Reserve with a typical 2-3 month delay.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Miscellaneous Professional, Scientific, and Technical Services (5412-5414, 5416-5419) in Iowa (IAMISCPROQGSP), retrieved from FRED.