Chain-Type Quantity Index for Real GDP: Military in North Dakota
NDGOVFEDMILQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
103.50
Year-over-Year Change
4.70%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Military in North Dakota measures the output of the military sector in North Dakota, adjusted for inflation. This metric is important for economists and policymakers to understand the economic impact of military activity 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 tracks the volume of military-related economic activity in North Dakota, providing a measure of the real, inflation-adjusted value of output from this sector. It is a key indicator for analyzing the broader economic role of the military in the state's economy.
Methodology
The data is calculated based on government spending and production data related to military operations in North Dakota.
Historical Context
This trend is used to inform policy decisions and assessments of the military's economic footprint in the state.
Key Facts
- North Dakota hosts several major military installations.
- The military sector accounts for a significant portion of the state's economy.
- This index tracks changes in the real output of military activities in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted output of the military sector in the state of North Dakota.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the economic impact of military activity and informing policy decisions related to the military's role in North Dakota's economy.
Q: How is this data collected or calculated?
A: The data is calculated based on government spending and production data related to military operations in North Dakota.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and economists to assess the economic footprint of the military in North Dakota and inform decisions related to military presence and spending in the state.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and potential revisions common to government economic statistics.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Military in North Dakota (NDGOVFEDMILQGSP), retrieved from FRED.