Chain-Type Quantity Index for Real GDP: Private Goods-Producing Industries in Rhode Island
RIPRIGOODPROQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
99.41
Year-over-Year Change
5.33%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Private Goods-Producing Industries in Rhode Island measures the inflation-adjusted output of the private goods-producing sector in the state. It is a key indicator of Rhode Island's economic performance 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 real output of private industries involved in goods production, such as manufacturing, mining, and construction. It provides insights into the state's industrial activity and helps analysts and policymakers assess the health of Rhode Island's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using survey information and other economic indicators.
Historical Context
The index is used by economists, investors, and government officials to monitor Rhode Island's economic trends and inform policy decisions.
Key Facts
- The index is published quarterly by the U.S. Bureau of Economic Analysis.
- It tracks the real output of industries like manufacturing, mining, and construction.
- Rhode Island's private goods-producing sector accounts for a significant portion of its overall economic activity.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Private Goods-Producing Industries in Rhode Island measures the inflation-adjusted output of the state's private goods-producing sector, including manufacturing, mining, and construction.
Q: Why is this trend relevant for users or analysts?
A: This index provides insights into the health and productivity of Rhode Island's industrial base, which is an important driver of the state's overall economic performance. It helps analysts and policymakers assess the state's economic conditions and trends.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using survey information and other economic indicators.
Q: How is this trend used in economic policy?
A: Economists, investors, and government officials use this index to monitor Rhode Island's economic trends and inform policy decisions related to the state's industrial and economic development.
Q: Are there update delays or limitations?
A: The index is published quarterly, with a typical release delay of 2-3 months after the end of the reference period.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Private Goods-Producing Industries in Rhode Island (RIPRIGOODPROQGSP), retrieved from FRED.