Chain-Type Quantity Index for Real GDP: Private Industries in South Dakota
SDPIQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
111.60
Year-over-Year Change
18.86%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Private Industries in South Dakota measures the total output of private industries in the state, adjusted for inflation. It provides insights into the economic performance and growth of South Dakota's private 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
This index tracks the real, inflation-adjusted value of goods and services produced by private businesses in South Dakota. It is a key indicator of the state's overall economic health and can inform policy decisions related to economic development, investment, and resource allocation.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to measure real GDP at the state level.
Historical Context
Economists and policymakers monitor this index to assess the strength and trajectory of South Dakota's private industry output, which informs decisions around fiscal, monetary, and economic policies.
Key Facts
- South Dakota's private industry output accounts for over 80% of the state's total GDP.
- The index has shown steady growth in recent years, reflecting the state's vibrant private sector.
- This metric is a key input for policymakers evaluating the economic health and competitiveness of South Dakota.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Private Industries in South Dakota measures the total output of private businesses in the state, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the performance and growth of South Dakota's private sector, which is a critical component of the state's overall economic health and competitiveness.
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 GDP at the state level.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this index to assess the strength and trajectory of South Dakota's private industry output, which informs decisions around fiscal, monetary, and economic policies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical release delay of 3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Private Industries in South Dakota (SDPIQGSP), retrieved from FRED.