Chain-Type Quantity Index for Real GDP: Computer and Electronic Product Manufacturing (334) in Illinois
ILCPUELCPMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
109.93
Year-over-Year Change
2.73%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Computer and Electronic Product Manufacturing (334) in Illinois measures the inflation-adjusted output of the computer and electronics manufacturing 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 gauge of the real production volume for the computer and electronic product manufacturing industry in Illinois. It is a key indicator of economic activity and productivity in a critical high-tech sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production and pricing information.
Historical Context
Policymakers and analysts use this metric to assess the health and competitiveness of Illinois' advanced manufacturing capabilities.
Key Facts
- Illinois is a top U.S. state for computer and electronics manufacturing.
- This index tracks real production volumes, adjusting for inflation.
- The sector is a critical driver of economic growth in the state.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted output or real production volumes of the computer and electronic product manufacturing industry in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the health and productivity of a key high-tech manufacturing sector in Illinois, which is critical for policymakers and economic analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using production and pricing information.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the competitiveness and growth potential of Illinois' advanced manufacturing capabilities, which informs economic development strategies.
Q: Are there update delays or limitations?
A: The data is subject to the normal publication schedule and revision processes of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Computer and Electronic Product Manufacturing (334) in Illinois (ILCPUELCPMANQGSP), retrieved from FRED.