Chain-Type Quantity Index for Real GDP: Educational Services (61) in Tennessee
TNEDCATQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119.09
Year-over-Year Change
19.19%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Educational Services (61) in Tennessee measures the volume of economic output in the educational services sector of Tennessee's economy. This metric is important for policymakers and analysts to understand trends in a key service industry within the state.
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 changes in the real, inflation-adjusted volume of educational services produced in Tennessee over time. It is a useful indicator of activity and productivity in the state's education sector, which is a significant component of the overall economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to measure real GDP by industry.
Historical Context
Policymakers and economists use this index to assess the health and growth of Tennessee's education industry and its contribution to the state's economic performance.
Key Facts
- The index is measured with a base year of 2012 = 100.
- Educational services account for over 3% of Tennessee's total GDP.
- The index reached a record high in 2021 despite the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted volume of economic output in the educational services sector of Tennessee's economy.
Q: Why is this trend relevant for users or analysts?
A: The educational services sector is an important component of Tennessee's economy, and this index provides insight into the performance and productivity of this industry.
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 approach to measure real GDP by industry.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to assess the health and growth of Tennessee's education industry and its contribution to the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Educational Services (61) in Tennessee (TNEDCATQGSP), retrieved from FRED.