Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in South Dakota
SDACCFDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
104.42
Year-over-Year Change
39.87%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in South Dakota measures the real output of the state's accommodation and food services sector. This is a key economic indicator for monitoring the health and growth of South Dakota's tourism and hospitality industries.
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 tracks changes in the real, inflation-adjusted output of the accommodation and food services sector in South Dakota. This metric is used by economists and policymakers to analyze trends in the state's service-based industries and their contribution to overall economic performance.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Historical Context
This economic indicator informs analysis of South Dakota's tourism, consumer spending, and service-sector dynamics.
Key Facts
- South Dakota's accommodation and food services sector accounts for about 5% of the state's total real GDP.
- The Chain-Type Quantity Index uses 2012 as the base year for calculating real output changes.
- This indicator 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: Accommodation and Food Services (72) in South Dakota measures the real, inflation-adjusted output of the state's accommodation and food services sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and growth of a key service industry in South Dakota, informing analysis of the state's tourism, consumer spending, and overall economic conditions.
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 methodology to measure real output changes in the accommodation and food services sector.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this indicator to monitor the health and dynamics of South Dakota's service-based industries, which have important implications for the state's overall economic performance and growth strategies.
Q: Are there update delays or limitations?
A: This indicator is published quarterly by the U.S. Bureau of Economic Analysis, with some delay from the end of the reference period.
Related Trends
Housing Inventory: New Listing Count Month-Over-Month in South Dakota
NEWLISCOUMMSD
Total Personal Income in South Dakota
SDOTOT
All Employees: Service-Providing in South Dakota
SMS46000000700000001
State Tax Collections: T21 Amusements License for South Dakota
QTAXT21QTAXCAT3SDNO
90% Confidence Interval Upper Bound of Estimate of Percent of People Age 0-17 in Poverty for South Dakota
PPCIUBU18SD46000A156NCEN
Coefficient for Commercial Carbon Dioxide Emissions, Distillate Fuel for South Dakota
EMISSCO2CDFCCBSDA
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in South Dakota (SDACCFDQGSP), retrieved from FRED.