Chain-Type Quantity Index for Real GDP: Other Services (Except Government and Government Enterprises) (81) in Indiana
INOTHSERVEQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
95.80
Year-over-Year Change
3.20%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Other Services (Except Government and Government Enterprises) (81) in Indiana measures the volume of economic output in the state's service sector, excluding government. This metric is a key indicator of economic growth and productivity.
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 real, inflation-adjusted GDP contribution of Indiana's private service industries, which account for a significant portion of the state's economic activity. It is used by economists and policymakers to assess the health and trajectory of the state's service-based economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to measure real GDP.
Historical Context
This index provides important context for evaluating Indiana's broader economic performance and informing policy decisions.
Key Facts
- Indiana's service sector accounts for over 70% of the state's GDP.
- The Other Services (Except Government) industry includes professions, personal services, and repair/maintenance.
- This index uses a base year of 2012 for calculating real GDP.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted volume of economic output in Indiana's private service industries, excluding government.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the health and growth of Indiana's service-based economy, which is a critical driver of 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 to measure real GDP.
Q: How is this trend used in economic policy?
A: This index informs economic and policy decisions by providing a reliable indicator of activity in Indiana's service sector, which is vital for evaluating the state's broader economic conditions.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Other Services (Except Government and Government Enterprises) (81) in Indiana (INOTHSERVEQGSP), retrieved from FRED.