Chain-Type Quantity Index for Real GDP: All Industry Total in North Dakota
NDQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
105.64
Year-over-Year Change
7.66%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: All Industry Total in North Dakota measures the overall economic output of the state, adjusting for inflation. It is a key indicator used by economists and policymakers to assess North Dakota's economic performance and growth.
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 real, inflation-adjusted total output of all industries in North Dakota. It provides a comprehensive measure of the state's economic activity and is widely used to analyze trends, make forecasts, and inform policy decisions.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on surveys and economic data collected across North Dakota.
Historical Context
Policymakers and analysts monitor this index to gauge the health of North Dakota's economy and inform fiscal and monetary policy decisions.
Key Facts
- North Dakota's real GDP index has grown by over 50% since 2005.
- The state's economy is heavily influenced by the energy and agriculture sectors.
- This index is a leading indicator of North Dakota's overall economic performance.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: All Industry Total in North Dakota measures the overall real, inflation-adjusted economic output of the state across all industries.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of North Dakota's economic health and growth, providing valuable insights for policymakers, businesses, and analysts to inform decision-making.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on comprehensive surveys and economic data collected across North Dakota.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this index to assess the state's economic performance, inform fiscal and monetary policy decisions, and identify potential areas for economic development.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with some lag from the end of the reporting period.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: All Industry Total in North Dakota (NDQQGSP), retrieved from FRED.