Chain-Type Quantity Index for Real GDP: Private Services-Providing Industries in Nebraska
NEPRISERVPROQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
116.61
Year-over-Year Change
39.22%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Private Services-Providing Industries in Nebraska measures the volume of economic output from the private service sector in the state. This metric is important for economists and policymakers to assess the health and trajectory of Nebraska's economy.
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 quantity of goods and services produced by private service industries in Nebraska, such as retail, finance, and healthcare. It provides a comprehensive measure of activity in the state's dominant services-based economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to account for changes in the relative prices of different goods and services over time.
Historical Context
Trends in this index help inform economic policy decisions and provide insight into consumer and business activity in Nebraska.
Key Facts
- Nebraska's private services sector accounts for over 60% of its total GDP.
- The index has shown steady growth over the past decade, reflecting the state's economic diversification.
- Service industries are a key driver of employment in Nebraska, comprising over 80% of the state's workforce.
FAQs
Q: What does this economic trend measure?
A: This index tracks the real, inflation-adjusted volume of economic output from private service-providing industries in the state of Nebraska.
Q: Why is this trend relevant for users or analysts?
A: Trends in this index provide valuable insights into the health and trajectory of Nebraska's dominant services-based economy, which is crucial information for policymakers and businesses.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to account for changes in relative prices over time.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this index to assess consumer and business activity in Nebraska, which informs economic policy decisions at the state and local level.
Q: Are there update delays or limitations?
A: The data is typically released with a 3-month lag, and may be subject to periodic revisions by the Bureau of Economic Analysis.
Related Trends
Commercial Carbon Dioxide Emissions, LPG (Fuel Use) for Nebraska
EMISSCO2VHLCCBNEA
State Government Tax Collections, Other License Taxes in Nebraska
NEOTHLICTAX
Chain-Type Quantity Index for Real GDP: Food and Beverage and Tobacco Product Manufacturing (311-312) in Nebraska
NEFOODBEVTOBMANQGSP
90% Confidence Interval Lower Bound of Estimate of Percent of People Age 0-17 in Poverty for Nebraska
PPCILBU18NE31000A156NCEN
Average Weekly Hours of All Employees: Trade, Transportation, and Utilities in Nebraska
SMU31000004000000002A
Number of Identified Exporters to France from Nebraska
NEFRAA475SCEN
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Private Services-Providing Industries in Nebraska (NEPRISERVPROQGSP), retrieved from FRED.