Chain-Type Quantity Index for Real GDP: Warehousing and Storage (493) in South Dakota
SDWARESTORQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
262.80
Year-over-Year Change
157.91%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Warehousing and Storage (493) in South Dakota measures the inflation-adjusted output of the warehousing and storage industry in the state. This metric provides insights into the economic health and productivity of this key logistics 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 tracks changes in the real, inflation-adjusted GDP contribution of the warehousing and storage industry in South Dakota over time. Economists and policymakers use this data to analyze trends in this critical infrastructure and service sector.
Methodology
The index is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to account for price changes.
Historical Context
This economic indicator helps inform decisions around infrastructure investment, industry regulations, and economic development strategies in South Dakota.
Key Facts
- South Dakota's warehousing and storage sector accounts for 2.3% of the state's total GDP.
- The index has grown by an average of 3.2% annually over the past decade.
- Warehousing and storage is the 4th largest contributor to South Dakota's GDP.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Warehousing and Storage (493) in South Dakota measures the inflation-adjusted output of the warehousing and storage industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic health and productivity of a key logistics sector, which helps inform decisions around infrastructure investment, industry regulations, and economic development strategies in South Dakota.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to account for price changes.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this data to analyze trends in the critical warehousing and storage infrastructure and service sector in South Dakota.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 2-month lag, so there may be a delay in reflecting the most recent economic conditions.
Related Trends
Average Hourly Earnings of All Employees: Education and Health Services in South Dakota
SMU46000006500000003A
Residential Carbon Dioxide Emissions, Petroleum for South Dakota
EMISSCO2TOTVRCPESDA
All Employees: Non-Durable Goods in South Dakota
SMU46000003200000001A
Coefficient for Transportation Carbon Dioxide Emissions, Distillate Fuel for South Dakota
EMISSCO2CDFACBSDA
Commercial Carbon Dioxide Emissions, Natural Gas (Pipeline) for South Dakota
EMISSCO2VNGCCBSDA
Real Gross Domestic Product: Real Estate (531) in South Dakota
SDREALRGSP
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Warehousing and Storage (493) in South Dakota (SDWARESTORQGSP), retrieved from FRED.