Chain-Type Quantity Index for Real GDP: Administrative and Support Services (561) in Montana
MTADMINSUPQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
161.80
Year-over-Year Change
54.67%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Administrative and Support Services (561) in Montana measures the real output of the administrative and support services industry in the state. This metric is a key indicator of economic activity and productivity in the service sector.
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 tracks the real (inflation-adjusted) output of specific industries in the U.S. economy. It provides a measure of industry-level productivity that can be used to analyze economic trends and inform policy decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys of businesses and economic indicators.
Historical Context
This metric is closely watched by policymakers, analysts, and businesses to gauge the health and growth of the service economy in Montana.
Key Facts
- The base year for this index is 2012.
- Administrative and support services make up about 10% of Montana's GDP.
- The index has shown steady growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the administrative and support services industry in Montana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and economic activity of a key service sector in Montana, which is crucial for understanding the overall health of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys of businesses and economic indicators.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor this index to gauge the strength of the service economy in Montana and inform decisions around economic development, workforce planning, and other policy areas.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with some lag time. There may also be revisions to previously reported figures as new information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Administrative and Support Services (561) in Montana (MTADMINSUPQGSP), retrieved from FRED.