Chain-Type Quantity Index for Real GDP: Utilities (22) in Minnesota
MNUTILQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
97.55
Year-over-Year Change
-0.19%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Utilities (22) in Minnesota measures the real output of the utilities industry in Minnesota, adjusting for inflation. This trend is an important indicator of economic activity and productivity 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
The Chain-Type Quantity Index for Real GDP: Utilities (22) in Minnesota tracks the inflation-adjusted production and output of the utilities sector, which includes electric, gas, water, and sewer services. This index is used by economists and policymakers to assess the health and growth of Minnesota's utilities industry.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to adjust for price changes over time.
Historical Context
Trends in utilities output provide insight into overall economic conditions and can inform policy decisions related to energy, infrastructure, and industrial development.
Key Facts
- The utilities sector accounts for around 2% of Minnesota's GDP.
- Utilities output has grown by an average of 1.5% annually in Minnesota over the past decade.
- Electricity generation is the largest component of the utilities index in Minnesota.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Utilities (22) in Minnesota measures the real, inflation-adjusted output of the utilities industry in the state.
Q: Why is this trend relevant for users or analysts?
A: Trends in utilities output provide important insights into overall economic conditions and productivity in Minnesota, which can inform policy decisions related to energy, infrastructure, and industrial development.
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 methodology to adjust for price changes over time.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this utilities output index to assess the health and growth of Minnesota's utilities sector, which is a key part of the state's infrastructure and industrial base.
Q: Are there update delays or limitations?
A: The utilities output index is published quarterly with a lag of several months, so there may be some delay in accessing the most recent data.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Utilities (22) in Minnesota (MNUTILQGSP), retrieved from FRED.