Chain-Type Quantity Index for Real GDP: Educational Services (61) in Minnesota
MNEDCATQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
102.69
Year-over-Year Change
5.64%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Educational Services (61) in Minnesota measures the inflation-adjusted output of the educational services sector in the state. This metric is important for economists and policymakers to analyze productivity and growth trends in this critical 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
This index tracks the volume of real GDP, or inflation-adjusted economic output, specifically for the educational services sector in Minnesota. It provides a standardized measure of the state's educational services industry performance over time, adjusting for price changes.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to account for structural shifts in the economy.
Historical Context
Policymakers and analysts use this index to assess the health and productivity of Minnesota's educational services industry and its contribution to the state's overall economic performance.
Key Facts
- The index has a base year of 2012 = 100.
- Educational services account for around 3% of Minnesota's total GDP.
- The index reached a high of 108.58 in 2019 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted output or real GDP of the educational services sector in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: The educational services industry is a critical component of Minnesota's economy, and this index helps analysts and policymakers understand productivity and growth trends in this sector.
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 approach to account for structural shifts in the economy.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the health and productivity of Minnesota's educational services industry and its contribution to the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 2-3 month lag.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Educational Services (61) in Minnesota (MNEDCATQQGSP), retrieved from FRED.