Chain-Type Quantity Index for Real GDP: Petroleum and Coal Products Manufacturing (324) in Illinois
ILPETCOALMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
77.35
Year-over-Year Change
-34.91%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Petroleum and Coal Products Manufacturing (324) in Illinois measures the real (inflation-adjusted) output of the petroleum and coal products manufacturing industry in the state of Illinois.
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 is a key economic indicator that provides insight into the productivity and growth of a crucial industrial sector in the Illinois economy. Economists and policymakers use this data to assess the overall health and competitiveness of the state's manufacturing industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is widely used to inform economic and industrial policy decisions at the state and federal levels.
Key Facts
- Illinois is a major center of petroleum and coal products manufacturing.
- This index captures 4-digit NAICS industry 324.
- The data is reported quarterly with a lag of approximately 3 months.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) output of the petroleum and coal products manufacturing industry in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This index provides valuable insights into the productivity and competitiveness of a crucial manufacturing sector in the Illinois economy, which is important for economic policy and investment decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and industry analysts to inform economic and industrial policy decisions at the state and federal levels.
Q: Are there update delays or limitations?
A: The data is reported quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Petroleum and Coal Products Manufacturing (324) in Illinois (ILPETCOALMANQGSP), retrieved from FRED.