Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in Minnesota
MNWHOLEQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
96.06
Year-over-Year Change
2.92%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in Minnesota measures the real output of the wholesale trade sector in Minnesota. This provides important insights into the health and productivity of a key component of the state's economy.
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: Wholesale Trade (42) in Minnesota tracks the volume of goods sold by wholesalers in the state. It serves as a proxy for the overall activity and growth in the wholesale trade industry, which is a major driver of economic activity.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index methodology.
Historical Context
Policymakers and economists use this index to assess the performance of Minnesota's wholesale trade sector and its contribution to the state's economic growth.
Key Facts
- The index is based on 2012 as the reference year.
- Minnesota's wholesale trade sector accounts for over 6% of the state's GDP.
- The index has shown steady growth in recent years, reflecting the sector's expansion.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in Minnesota measures the real output of the wholesale trade sector in the state. It provides a gauge of the volume of goods sold by wholesalers.
Q: Why is this trend relevant for users or analysts?
A: This index is relevant for understanding the performance and contribution of the wholesale trade industry to Minnesota's overall economic growth and activity.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index methodology.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to assess the health and growth of Minnesota's wholesale trade sector, which is a key component of the state's economy.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with typical release delays of 1-2 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in Minnesota (MNWHOLEQGSP), retrieved from FRED.