Chain-Type Quantity Index for Real GDP: State and Local in Indiana
INGOVSLQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
105.50
Year-over-Year Change
12.92%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: State and Local in Indiana measures the volume of economic output produced by state and local governments in Indiana, adjusting for inflation.
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 indicator of economic activity and fiscal health in Indiana. It provides a standardized measure of real government spending and production at the state and local level, which is important for assessing the public sector's contribution to the overall economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using price and quantity information.
Historical Context
Policymakers and analysts use this index to monitor the performance of the public sector in Indiana and make informed decisions about fiscal policy.
Key Facts
- Indiana's state and local government real GDP index has increased by 10% over the past decade.
- The index reached a record high in 2020, despite the COVID-19 pandemic.
- The index is an important indicator of the public sector's economic contributions in Indiana.
FAQs
Q: What does this economic trend measure?
A: This index measures the volume of real economic output produced by state and local governments in Indiana, adjusting for inflation.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of the fiscal health and economic contribution of the public sector in Indiana, which is important for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using price and quantity information.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to monitor the performance of the public sector in Indiana and make informed decisions about fiscal policy.
Q: Are there update delays or limitations?
A: The index is published quarterly with a short delay, and may be subject to revisions as more data becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: State and Local in Indiana (INGOVSLQGSP), retrieved from FRED.