Chain-Type Quantity Index for Real GDP: Educational Services (61) in Indiana
INEDCATQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
110.88
Year-over-Year Change
4.59%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Educational Services (61) in Indiana measures the inflation-adjusted output of the educational services sector in the state. This metric is vital for policymakers and economists to assess the performance of a key component of Indiana'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 tracks changes in the real, price-adjusted value of educational services output in Indiana over time. It is used to analyze productivity, growth, and inflationary trends within the state's education industry, which is an important driver of economic activity.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted formula to measure real GDP at the state and industry level.
Historical Context
Trends in this index can inform decisions around funding, policy, and investment in Indiana's education system.
Key Facts
- Indiana's educational services sector accounts for about 4% of the state's real GDP.
- This index has grown by an average of 2.5% annually over the past decade.
- The COVID-19 pandemic caused a sharp 6.7% decline in the index in 2020.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Educational Services (61) in Indiana measures the inflation-adjusted output or productivity of the educational services industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is valuable for evaluating the performance and economic contribution of Indiana's education sector, which is a key driver 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 a chain-weighted formula to measure real GDP at the state and industry level.
Q: How is this trend used in economic policy?
A: Trends in this index can inform decisions around funding, policy, and investment in Indiana's education system by policymakers and market analysts.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in accessing the latest information.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Educational Services (61) in Indiana (INEDCATQGSP), retrieved from FRED.