Chain-Type Quantity Index for Real GDP: Retail Trade (44-45) in Idaho
IDRETAILQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
127.04
Year-over-Year Change
69.08%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Retail Trade (44-45) in Idaho measures the inflation-adjusted volume of economic activity in the retail trade sector of Idaho's economy.
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 comprehensive measure of the real output of the retail trade industry in Idaho, allowing economists and policymakers to track trends in consumer spending and economic activity in the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using detailed industry-level information.
Historical Context
Retail trade is a key driver of economic growth, so this index is closely monitored by businesses, investors, and government officials.
Key Facts
- Idaho's retail trade sector accounts for over 10% of the state's GDP.
- The retail trade index has grown by an average of 3% annually over the past decade.
- Consumer spending makes up nearly two-thirds of Idaho's total economic activity.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted volume of economic activity in the retail trade sector of Idaho's economy.
Q: Why is this trend relevant for users or analysts?
A: Retail trade is a key driver of economic growth, so this index is closely monitored by businesses, investors, and government officials to gauge consumer spending and overall economic activity in Idaho.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using detailed industry-level information.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to assess the health of Idaho's economy and make informed decisions about fiscal and monetary policies.
Q: Are there update delays or limitations?
A: The data is typically released with a 2-3 month lag, and may be subject to periodic revisions by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Retail Trade (44-45) in Idaho (IDRETAILQGSP), retrieved from FRED.