Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Minnesota
MNACCOMDQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
94.53
Year-over-Year Change
1.31%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Minnesota measures the real economic output of the accommodation and food services sector in the state. This trend is a key indicator of consumer spending and tourism activity.
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) quantity of goods and services produced by the accommodation and food services industry in Minnesota. It is used by economists and policymakers to assess the health and growth of this important economic sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted method to account for changes in relative prices over time.
Historical Context
Trends in this index can inform decisions around economic policy, infrastructure investment, and tourism promotion in Minnesota.
Key Facts
- The index is based on 2012 prices.
- The series began in 2005.
- The index reached a high of 125.91 in 2019.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real output of the accommodation and food services sector in Minnesota. It tracks the quantity of goods and services produced by this industry, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator of consumer spending and tourism activity in Minnesota, which are key drivers of economic growth in the state.
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 method to account for changes in relative prices over time.
Q: How is this trend used in economic policy?
A: Trends in this index can inform decisions around economic policy, infrastructure investment, and tourism promotion in Minnesota.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months, so there may be a delay in reflecting the latest economic conditions.
Related Trends
All Employees: Wholesale Trade: Merchant Wholesalers, Durable Goods in Minnesota
SMU27000004142300001SA
Unemployment Level for Minnesota
UNEMPLOYMN
Real Per Capita Personal Income for Minnesota
MNRPIPC
Personal Consumption Expenditures: Total for Minnesota
MNPCE
Average Weekly Hours of All Employees: Manufacturing in Minnesota
SMU27000003000000002A
Real Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Minnesota
MNDATAWWWRGSP
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Minnesota (MNACCOMDQQGSP), retrieved from FRED.