Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in North Dakota
NDACCOMDQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
108.40
Year-over-Year Change
-3.61%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in North Dakota measures the inflation-adjusted output of the accommodation and food services sector 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
This index provides insight into the performance and growth of the hospitality industry in North Dakota, which is an important part of the state's economy. Economists and policymakers use this data to understand broader economic trends and make informed decisions.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index approach.
Historical Context
This index can be used to assess the health of North Dakota's tourism and service sector.
Key Facts
- The index is based on 2012 dollars.
- North Dakota's accommodation and food services sector accounts for a significant portion of the state's economy.
- The index can be used to track the growth or decline of the hospitality industry in North Dakota.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted output of the accommodation and food services sector in North Dakota, providing insight into the performance of the state's hospitality industry.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the broader economic conditions in North Dakota, as the accommodation and food services sector is an important part of the state's economy.
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 approach.
Q: How is this trend used in economic policy?
A: This trend can be used by economists and policymakers to assess the health of North Dakota's tourism and service sector, which can inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the standard release schedule and potential revisions by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in North Dakota (NDACCOMDQQGSP), retrieved from FRED.