Chain-Type Quantity Index for Real GDP: Retail Trade (44-45) in Pennsylvania
PARETAILQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
120.73
Year-over-Year Change
42.67%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Retail Trade (44-45) in Pennsylvania measures the real, inflation-adjusted output of the retail trade sector in Pennsylvania. It is a key indicator of economic activity and consumer demand in the state.
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 volume of goods and services produced by the retail trade industry in Pennsylvania, adjusted for price changes. It provides insight into the health and growth of the state's consumer economy, which is a major driver of overall economic performance.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
Policymakers and analysts use this metric to assess the strength of Pennsylvania's consumer-driven economic sectors.
Key Facts
- The index uses 2012 as the base year.
- Retail trade accounts for over 5% of Pennsylvania's total GDP.
- The index has shown steady growth since the 2008-2009 recession.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Retail Trade (44-45) in Pennsylvania measures the real, inflation-adjusted output of the retail trade sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the health and growth of Pennsylvania's consumer-driven economy, which is a major component of the state's overall economic 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 quantity index formula.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the strength of Pennsylvania's consumer-driven economic sectors and make informed decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical lag of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Retail Trade (44-45) in Pennsylvania (PARETAILQGSP), retrieved from FRED.