Chain-Type Quantity Index for Real GDP: Private Industries in Tennessee
TNPIQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
123.50
Year-over-Year Change
43.16%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Private Industries in Tennessee measures the inflation-adjusted output of private industries in the state. It serves as a key indicator of economic growth and productivity.
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, or inflation-adjusted, gross domestic product (GDP) generated by private companies in Tennessee. It is a valuable metric for evaluating the state's economic performance and understanding broader regional trends.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Historical Context
Policymakers and analysts use this index to inform decisions around economic development, investment, and fiscal policy in Tennessee.
Key Facts
- Tennessee's private sector GDP index has grown by 35% since 2010.
- The index reached an all-time high in 2021, indicating robust economic expansion.
- Manufacturing is the largest contributor to Tennessee's private industry GDP.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Private Industries in Tennessee measures the inflation-adjusted output of private companies in the state.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of Tennessee's economic growth and productivity, providing insights into the performance of the state's private sector.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to inform decisions around economic development, investment, and fiscal policy in Tennessee.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Private Industries in Tennessee (TNPIQGSP), retrieved from FRED.