Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Minnesota
MNAGRQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26.80
Year-over-Year Change
-78.99%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Minnesota measures the inflation-adjusted output of this key economic sector in the state.
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-dollar value of agricultural, forestry, fishing, and hunting production in Minnesota. It is used by economists and policymakers to analyze trends in this vital component of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using chain-weighted quantities to adjust for inflation.
Historical Context
This metric informs decisions around economic development, trade, and natural resource policies in Minnesota.
Key Facts
- Minnesota is a top agricultural producer in the U.S.
- This sector accounts for over 10% of the state's GDP.
- The index uses 2012 as the base year.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted dollar value of agricultural, forestry, fishing, and hunting production in Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides critical insights into a vital component of Minnesota's economy, informing decision-making around economic development, trade, and natural resource policies.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using chain-weighted quantities to adjust for inflation.
Q: How is this trend used in economic policy?
A: This index informs policymakers and analysts on the performance and importance of Minnesota's agriculture, forestry, fishing, and hunting sectors.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag, and may be subject to revisions by the source agency.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Minnesota (MNAGRQQGSP), retrieved from FRED.