Chain-Type Quantity Index for Real GDP: Management of Companies and Enterprises (55) in Pennsylvania
PAMNGCOENTPRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
147.85
Year-over-Year Change
72.26%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the chain-type quantity index for real GDP in the management of companies and enterprises sector for the state of Pennsylvania. It provides insights into the productivity and output growth of this key industry.
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
The chain-type quantity index for real GDP tracks changes in the volume of economic output, adjusted for inflation, within a specific industry or region. This metric is useful for analyzing the relative performance and trends in different sectors of the economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
This index is used by economists and policymakers to assess the health and growth dynamics of Pennsylvania's business services sector.
Key Facts
- The index is based on 2012 as the reference year.
- Pennsylvania's management sector accounts for around 5% of the state's total GDP.
- The index reached a high of 118.3 in 2019 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in the management of companies and enterprises sector for the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This index provides insights into the productivity and output growth of Pennsylvania's business services sector, which is an important component of the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: This index is used by economists and policymakers to assess the health and growth dynamics of Pennsylvania's business services sector, which can inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Management of Companies and Enterprises (55) in Pennsylvania (PAMNGCOENTPRQGSP), retrieved from FRED.