Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in Minnesota
MNWHOLEQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
94.83
Year-over-Year Change
-0.95%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in Minnesota measures the volume of economic output in the wholesale trade sector of Minnesota's economy. This metric is crucial for policymakers and analysts to gauge the overall health and growth 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 is a seasonally adjusted, chained-dollar index that tracks the real volume of economic production in the wholesale trade industry within the state. It serves as an important indicator of broader economic activity and can help inform decisions around fiscal and monetary policy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their GDP-by-industry accounts.
Historical Context
This economic trend is closely monitored by policymakers, businesses, and market analysts to assess the performance of Minnesota's wholesale trade sector and its impact on the state's overall economic conditions.
Key Facts
- Minnesota's wholesale trade sector accounts for approximately 7% of the state's total GDP.
- The Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in Minnesota has shown steady growth over the past decade.
- Wholesale trade is a key driver of economic activity in Minnesota, supporting numerous other industries and job sectors.
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 volume of economic output in the wholesale trade industry within the state.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for policymakers and analysts to gauge the overall health and growth of Minnesota's economy, as the wholesale trade sector is a significant driver of economic activity in the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their GDP-by-industry accounts.
Q: How is this trend used in economic policy?
A: This economic trend is closely monitored by policymakers, businesses, and market analysts to assess the performance of Minnesota's wholesale trade sector and its impact on the state's overall economic conditions, which can inform decisions around fiscal and monetary policy.
Q: Are there update delays or limitations?
A: The Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in Minnesota is subject to the same update schedule and potential data limitations as the broader GDP-by-industry accounts published by the BEA.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in Minnesota (MNWHOLEQQGSP), retrieved from FRED.