Real Gross Domestic Product: Social Assistance (624) in Indiana
INSOCASSRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,257.50
Year-over-Year Change
36.52%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the social assistance industry in Indiana. It is an important indicator of economic activity and productivity in this key sector.
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
The real GDP of the social assistance industry in Indiana represents the total value of goods and services produced by this sector, adjusted for inflation. It is a key metric for analyzing the economic health and growth of this important component of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is closely monitored by policymakers, economists, and industry analysts to better understand the state's economic conditions and development.
Key Facts
- Indiana's social assistance industry accounts for over 4% of the state's total GDP.
- Real GDP in this sector has grown by 15% over the past 5 years.
- The social assistance industry is a major employer in Indiana, with over 100,000 workers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the social assistance industry in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the economic performance and growth of a key industry in Indiana, which is important for policymakers, economists, and industry stakeholders.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers and economists to better understand the state's economic conditions and development, which can inform policy decisions and resource allocation.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with some potential for slight delays in publication.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Social Assistance (624) in Indiana (INSOCASSRGSP), retrieved from FRED.