Chain-Type Quantity Index for Real GDP: Military in Indiana
INGOVFEDMILQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
99.32
Year-over-Year Change
-15.53%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Military in Indiana measures the volume of military-related economic activity in the state. It is a key indicator for understanding the role of the military sector in Indiana's overall economic performance.
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 (inflation-adjusted) quantity of military-related goods and services produced in Indiana. It is a useful metric for economists and policymakers to analyze the economic impact of the military presence and defense spending in the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Historical Context
Trends in this index are closely monitored by state officials and military contractors to assess the strength of Indiana's defense-related economy.
Key Facts
- The index has a base year of 2012.
- Indiana has a large military presence, including several major defense contractor facilities.
- Military spending accounts for a significant portion of Indiana's economic output.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Military in Indiana measures the real volume of military-related goods and services produced in the state.
Q: Why is this trend relevant for users or analysts?
A: This index is important for understanding the role of the military sector in Indiana's economy and how defense spending impacts the state's overall economic performance.
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 methodology.
Q: How is this trend used in economic policy?
A: Trends in this index are closely monitored by state officials and military contractors to assess the strength of Indiana's defense-related economy and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Military in Indiana (INGOVFEDMILQGSP), retrieved from FRED.