Chain-Type Quantity Index for Real GDP: Utilities (22) in North Dakota
NDUTILQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
105.09
Year-over-Year Change
16.90%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Utilities (22) in North Dakota measures the inflation-adjusted output of the utilities sector in the state. This metric is important for economists and policymakers to assess economic growth and productivity trends.
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 a comprehensive measure of the real output, or volume, of the utilities industry in North Dakota. It is a valuable indicator of economic activity and performance in this key sector, which includes electric, gas, and water utilities.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national accounting principles.
Historical Context
Policymakers and market analysts monitor this index to gauge the health and trajectory of the utilities industry and its contribution to the broader North Dakota economy.
Key Facts
- North Dakota's utilities sector accounts for approximately 3% of the state's GDP.
- The utilities index reached a record high in 2019 before declining during the COVID-19 pandemic.
- Utilities are a key input for many other industries, making this index a bellwether for broader economic activity.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Utilities (22) in North Dakota measures the inflation-adjusted output or production volume of the utilities sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator of economic performance and growth in North Dakota's utilities industry, which is a crucial input for many other sectors 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 using national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts monitor this index to gauge the health and trajectory of the utilities industry and its contribution to the broader North Dakota economy.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months, so there may be delays in capturing the most recent economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Utilities (22) in North Dakota (NDUTILQQGSP), retrieved from FRED.