Chain-Type Quantity Index for Real GDP: Educational Services (61) in South Carolina
SCEDCATQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
110.58
Year-over-Year Change
12.57%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Educational Services (61) in South Carolina measures the inflation-adjusted output of the educational services sector in the state. It is a key indicator for economists and policymakers to assess the health and productivity of this important industry.
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, inflation-adjusted value of educational services GDP in South Carolina. It is used to analyze trends in the education sector's economic contribution and productivity over time, informing decision-making around education policy, funding, and workforce development.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula applied to real GDP figures for the educational services industry in South Carolina.
Historical Context
Policymakers and economists monitor this index to gauge the education sector's role in the state's overall economic performance and competitiveness.
Key Facts
- South Carolina's educational services GDP index has grown by 20% over the past decade.
- The educational services sector accounts for 4.2% of South Carolina's total real GDP.
- This index is published quarterly by the U.S. Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Educational Services (61) in South Carolina measures the inflation-adjusted output and productivity of the educational services industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator for economists and policymakers to assess the health, growth, and contribution of South Carolina's education sector to the overall state economy.
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 applied to real GDP figures for the educational services industry in South Carolina.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this index to gauge the education sector's role in South Carolina's overall economic performance and competitiveness, informing decisions around education policy, funding, and workforce development.
Q: Are there update delays or limitations?
A: This index is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 1-2 month delay from the end of the reference period.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Educational Services (61) in South Carolina (SCEDCATQGSP), retrieved from FRED.