Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in Illinois
ILMANQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
112.95
Year-over-Year Change
-2.16%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in Illinois measures the real output of the manufacturing sector in Illinois, adjusting for inflation. This metric is a key indicator of economic activity and productivity 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 tracks the quantity of real goods produced by Illinois manufacturers, providing a measure of the sector's economic contribution. It is an important barometer for policymakers and analysts to gauge the health and competitiveness of the state's manufacturing industry.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production and pricing information.
Historical Context
Manufacturing is a critical component of Illinois' economy, and this index offers insights into industry trends that can inform economic policies and business decisions.
Key Facts
- Illinois is the 5th largest manufacturing state by GDP.
- Manufacturing accounts for over 12% of Illinois' economic output.
- The index has shown steady growth since the 2008-2009 recession.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in Illinois measures the real output of the manufacturing sector in the state, adjusting for inflation.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator of the health and competitiveness of Illinois' manufacturing industry, which is a critical component of the state's economy.
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 gauge the performance of Illinois' manufacturing sector and inform economic policies and business decisions.
Q: Are there update delays or limitations?
A: The index is updated regularly by the U.S. Bureau of Economic Analysis, but there may be some time lag in the data.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in Illinois (ILMANQQGSP), retrieved from FRED.