Chain-Type Quantity Index for Real GDP: Information (51) in Rhode Island
RIINFOQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
136.55
Year-over-Year Change
14.35%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Information (51) in Rhode Island measures the real economic output of the information sector in Rhode Island. This metric is important for understanding the state's economic growth and productivity.
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 real GDP, or inflation-adjusted economic output, specifically for the information industry in Rhode Island. It provides insights into the performance and contribution of this key sector to the state's overall economic activity.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Historical Context
Policymakers and analysts use this metric to evaluate the health and competitiveness of Rhode Island's information industry.
Key Facts
- The information sector accounts for over 5% of Rhode Island's total GDP.
- The index has grown by an average of 2.5% annually over the past decade.
- Rhode Island's information industry is a key driver of the state's economic diversity and innovation.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted economic output of the information industry in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and contribution of Rhode Island's information sector, which is a key driver of the state's economic growth and diversification.
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 methodology.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate the health and competitiveness of Rhode Island's information industry, which informs economic development strategies and policy 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 2-3 month delay.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Information (51) in Rhode Island (RIINFOQGSP), retrieved from FRED.