Chain-Type Quantity Index for Real GDP: Farms (111-112) in Indiana
INFARMQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
145.92
Year-over-Year Change
47.07%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Farms (111-112) in Indiana measures the real output of the farming sector in Indiana. It is a key indicator for understanding the state's agricultural productivity and economic growth.
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 agricultural goods produced in Indiana, adjusting for inflation to provide a real measure of output. It is used by economists and policymakers to analyze the performance and trends within Indiana's farm industry.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis and calculated using a chain-type index formula.
Historical Context
This metric informs decision-making around agricultural and economic policies in Indiana.
Key Facts
- Indiana is one of the top agricultural producing states in the U.S.
- The farming sector accounts for over 10% of Indiana's GDP.
- Crop production dominates Indiana's agricultural output.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Farms (111-112) in Indiana measures the real output of the farming sector in the state, adjusting for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the performance and productivity of Indiana's agricultural industry, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis and calculated using a chain-type index formula.
Q: How is this trend used in economic policy?
A: This index informs decision-making around agricultural and economic policies in Indiana, as it provides insights into the state's farm output and productivity.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not capture the most recent economic conditions.
Related Trends
Real Gross Domestic Product: Private Industries in Indiana
INPIRQGSP
Real Per Capita Personal Income in Indiana
INOI96
Earnings by Place of Work in Indiana
INEPLA
Real Gross Domestic Product: Machinery Manufacturing (333) in Indiana
INMACHMANRGSP
Number of Identified Exporters to Hungary from Indiana
INHUNA475SCEN
All Employees: Durable Goods: Computer and Electronic Product Manufacturing in Indiana
SMU18000003133400001A
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Farms (111-112) in Indiana (INFARMQGSP), retrieved from FRED.