Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Idaho
IDAGRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
130.73
Year-over-Year Change
53.66%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Idaho measures the real output of the agriculture, forestry, fishing, and hunting sector in the state. This index is a key indicator of economic activity and productivity in Idaho's primary industries.
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 in Idaho's agriculture, forestry, fishing, and hunting sector provides a comprehensive measure of real output growth in these important industries. It is used by economists and policymakers to track the performance and contribution of this sector to the state's overall economic activity.
Methodology
The index is calculated by the U.S. Bureau of Economic Analysis using detailed industry production data.
Historical Context
This index informs analysis of Idaho's economic development, resource utilization, and policy decisions affecting the state's primary industries.
Key Facts
- Idaho's agriculture, forestry, fishing, and hunting sector accounts for over 5% of the state's GDP.
- The index has increased by 12% over the past 5 years, indicating strong growth in these industries.
- This index is a component of the broader Idaho Gross Domestic Product (GDP) measure.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Idaho measures the real output of these key primary industries in the state.
Q: Why is this trend relevant for users or analysts?
A: This index provides insight into the performance and contribution of Idaho's agriculture, forestry, fishing, and hunting sectors, which are crucial to 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 detailed industry production data.
Q: How is this trend used in economic policy?
A: This index informs analysis of Idaho's economic development, resource utilization, and policy decisions affecting the state's primary industries.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-month delay in data availability.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Idaho (IDAGRQGSP), retrieved from FRED.