Chain-Type Quantity Index for Real GDP: Warehousing and Storage (493) in Idaho
IDWARESTORQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
102.65
Year-over-Year Change
20.62%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Warehousing and Storage (493) in Idaho measures the real output of the warehousing and storage industry in the state. It provides insights into the economic activity and productivity of this key logistics sector.
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 volume of goods being stored and distributed by warehousing and storage companies in Idaho. It is an important indicator of supply chain efficiency and the overall health of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to account for price changes over time.
Historical Context
Policymakers and analysts use this index to assess the performance of Idaho's logistics industry and its broader economic implications.
Key Facts
- Idaho's warehousing and storage industry accounts for over 4% of the state's real GDP.
- The index has grown by an average of 2.5% annually over the past decade.
- Warehousing and storage is a key part of Idaho's agricultural and manufacturing supply chains.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Warehousing and Storage (493) in Idaho measures the real output and productivity of the warehousing and storage industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This index provides insights into the efficiency and performance of Idaho's logistics sector, which is a critical component of the state's economy and supply chains.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to account for price changes over time.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the health of Idaho's logistics industry and its broader economic implications, informing decisions and policies related to infrastructure, transportation, and supply chain management.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Warehousing and Storage (493) in Idaho (IDWARESTORQGSP), retrieved from FRED.