Chain-Type Quantity Index for Real GDP: All Industry Total in Rhode Island
RIQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
112.07
Year-over-Year Change
7.25%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: All Industry Total in Rhode Island measures the total real economic output of Rhode Island. This metric is closely watched by economists and policymakers to assess the state's economic health and performance.
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: All Industry Total tracks the real GDP output across all industries in Rhode Island, adjusted for inflation. It serves as a comprehensive measure of the state's overall economic activity and production.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to account for changes in the relative prices of goods and services over time.
Historical Context
This index is a key indicator used by economists, policymakers, and businesses to understand Rhode Island's economic conditions and inform decision-making.
Key Facts
- Rhode Island's real GDP index has grown by 15% over the past decade.
- The state's real GDP accounts for about 0.3% of the total U.S. economy.
- The index reached a record high in 2019 before declining due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: All Industry Total in Rhode Island measures the total real economic output of the state, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by economists and policymakers to assess Rhode Island's economic health and performance, which informs decision-making and policy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to account for changes in the relative prices of goods and services.
Q: How is this trend used in economic policy?
A: The Rhode Island real GDP index is a key indicator used by economists, policymakers, and businesses to understand the state's economic conditions and inform decision-making.
Q: Are there update delays or limitations?
A: The data is typically published with a 3-month lag, and the index may be subject to revisions as more information becomes available.
Related Trends
90% Confidence Interval Upper Bound of Estimate of Percent of Related Children Age 5-17 in Families in Poverty for Rhode Island
PPCIUB5T17RI44000A156NCEN
Real Gross Domestic Product: Computer Systems Design and Related Services (5415) in Rhode Island
RICPUSYSDSGNRGSP
Number of Identified Exporters to Switzerland from Rhode Island
RICHEA475SCEN
Per Capita Personal Consumption Expenditures: Services: Food Services and Accommodations for Rhode Island
RIPCEPCFDSRVACCMD
Average Weekly Hours of All Employees: Construction in Rhode Island
SMU44000002000000002A
Poverty Universe, Age 5-17 related for Rhode Island
PUA5T17RRI44000A647NCEN
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: All Industry Total in Rhode Island (RIQQGSP), retrieved from FRED.