Chain-Type Quantity Index for Real GDP: Professional, Scientific, and Technical Services (54) in Iowa
IAPROBUSQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
143.61
Year-over-Year Change
14.61%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Professional, Scientific, and Technical Services (54) in Iowa measures the volume of economic output for 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 provides a measure of real GDP growth for the professional, scientific, and technical services industry in Iowa. It allows analysts to track changes in the volume of economic activity in this key sector over time.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using the chain-type quantity index method.
Historical Context
This index is used by policymakers and market analysts to assess the economic performance of Iowa's professional services industry.
Key Facts
- Covers NAICS sector 54: Professional, Scientific, and Technical Services.
- Base year is 2012.
- Reported quarterly.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted change in the volume of economic output for the professional, scientific, and technical services industry in Iowa.
Q: Why is this trend relevant for users or analysts?
A: This index provides insight into the performance of a key sector of Iowa's economy, allowing analysts to track growth and changes over time.
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 method.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this index to assess the economic health and growth of Iowa's professional services industry, which is an important driver of the state's economy.
Q: Are there update delays or limitations?
A: The data is reported quarterly, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Professional, Scientific, and Technical Services (54) in Iowa (IAPROBUSQQGSP), retrieved from FRED.