Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in South Carolina
SCCHEMMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
126.42
Year-over-Year Change
16.06%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in South Carolina measures the inflation-adjusted output of the chemical manufacturing industry in the state. This metric is important for economists and policymakers to understand regional economic trends and industrial production.
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, or inflation-adjusted, value added by the chemical manufacturing sector in South Carolina. It is used to analyze the state's economic growth, productivity, and industrial competitiveness within this key industry.
Methodology
The data is calculated based on Bureau of Economic Analysis surveys and econometric modeling.
Historical Context
Policymakers and analysts use this index to inform decisions around economic development, tax policy, and industrial regulations.
Key Facts
- The index is benchmarked to 2012 = 100.
- Chemical manufacturing accounts for over 20% of South Carolina's GDP.
- The state is a major hub for the U.S. chemical industry.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the chemical manufacturing industry in South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding regional economic growth, industrial productivity, and competitiveness within a key sector of South Carolina's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the Bureau of Economic Analysis based on surveys and econometric modeling.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to inform decisions around economic development, tax policy, and industrial regulations in South Carolina.
Q: Are there update delays or limitations?
A: The index data is released quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in South Carolina (SCCHEMMANQGSP), retrieved from FRED.