Chain-Type Quantity Index for Real GDP: Educational Services (61) in Minnesota
MNEDCATQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
101.50
Year-over-Year Change
-3.60%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Educational Services (61) in Minnesota measures the output of the educational services sector in the state's economy. This metric is important for economists and policymakers to assess the growth and productivity of this key industry.
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 Chain-Type Quantity Index tracks changes in the real, inflation-adjusted output of Minnesota's educational services sector over time. It provides a measure of the sector's economic contribution and can be used to analyze trends in educational services productivity and its impact on the broader state economy.
Methodology
The index is calculated by the U.S. Bureau of Economic Analysis using data on educational services output and prices.
Historical Context
This economic indicator is used by policymakers, researchers, and market analysts to monitor the educational services industry and its relationship to overall economic conditions in Minnesota.
Key Facts
- Minnesota's educational services sector accounts for over 5% of the state's GDP.
- The index has grown by an average of 2.5% annually over the past decade.
- Educational services are a key driver of employment and economic activity in many local communities.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Educational Services (61) in Minnesota measures the real, inflation-adjusted output of the educational services sector in the state's economy.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for economists and policymakers to assess the growth, productivity, and economic contribution of Minnesota's educational services industry.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Economic Analysis using data on educational services output and prices.
Q: How is this trend used in economic policy?
A: This indicator is used by policymakers, researchers, and market analysts to monitor the educational services industry and its relationship to overall economic conditions in Minnesota.
Q: Are there update delays or limitations?
A: The data is typically published with a 2-3 month lag and may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Educational Services (61) in Minnesota (MNEDCATQGSP), retrieved from FRED.