Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in South Dakota
SDCHEMMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
124.21
Year-over-Year Change
-3.29%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in South Dakota measures the real output of the chemical manufacturing industry in the state. This metric is a key indicator of economic activity and productivity in a crucial sector.
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: Chemical Manufacturing (325) in South Dakota tracks the volume of goods produced by chemical manufacturers in the state, adjusted for inflation. This helps economists and policymakers understand broader trends in industrial output and competitiveness.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using proprietary methods to account for price changes over time.
Historical Context
This index is widely used to assess the health of South Dakota's manufacturing economy and inform decisions on economic policy, investment, and trade.
Key Facts
- The index is based on 2012 as the reference year.
- South Dakota's chemical manufacturing sector accounts for over 10% of the state's GDP.
- The index has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in South Dakota measures the real output of the chemical manufacturing industry in the state, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of economic activity and productivity in a crucial manufacturing sector, helping economists and policymakers understand broader trends in industrial output and competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using proprietary methods to account for price changes over time.
Q: How is this trend used in economic policy?
A: This index is widely used to assess the health of South Dakota's manufacturing economy and inform decisions on economic policy, investment, and trade.
Q: Are there update delays or limitations?
A: The data is published on a regular schedule by the U.S. Federal Reserve, with minimal update delays.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in South Dakota (SDCHEMMANQGSP), retrieved from FRED.