Chain-Type Quantity Index for Real GDP: Construction (23) in Pennsylvania
PACONSTQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
91.31
Year-over-Year Change
-6.38%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Construction (23) in Pennsylvania measures the volume of construction activity in the state, providing insights into economic growth and investment.
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 changes in the real, inflation-adjusted output of the construction sector in Pennsylvania. It is a valuable indicator of construction activity and capital investment, which are important drivers of overall economic performance.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index formula.
Historical Context
Policymakers and analysts use this index to assess the health of Pennsylvania's construction industry and its contribution to the state's economic conditions.
Key Facts
- The index is based on 2012 as the reference year.
- Construction accounts for about 4% of Pennsylvania's total GDP.
- The index reached a peak in 2021 and has since declined.
FAQs
Q: What does this economic trend measure?
A: This index measures the volume of construction activity in Pennsylvania, providing a gauge of the real, inflation-adjusted output of the state's construction sector.
Q: Why is this trend relevant for users or analysts?
A: The construction industry is a key driver of economic growth and investment, so this index is an important indicator for understanding Pennsylvania's economic conditions and performance.
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 formula.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the health of Pennsylvania's construction industry and its contribution to the state's overall economic performance, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The index data is published quarterly, with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Construction (23) in Pennsylvania (PACONSTQQGSP), retrieved from FRED.