Chain-Type Quantity Index for Real GDP: Private Services-Providing Industries in Tennessee
TNPRISERVPROQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
127.30
Year-over-Year Change
47.25%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Private Services-Providing Industries in Tennessee measures the real output of private service-providing industries in the state. This metric is important for economists and policymakers to assess the health and growth of Tennessee's service economy.
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 volume of output from private service-producing industries in Tennessee, including sectors like finance, healthcare, retail, and others. It is a valuable indicator of economic activity and productivity in the state's dominant service sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
Policymakers and analysts use this metric to inform decisions around economic development, fiscal policies, and market trends in Tennessee.
Key Facts
- Tennessee's service sector accounts for over 60% of the state's GDP.
- The Chain-Type Quantity Index has shown steady growth since 2010.
- Service-providing industries are the largest employer in Tennessee.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output of private service-providing industries in the state of Tennessee, including sectors like finance, healthcare, and retail.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the health and growth of Tennessee's dominant service economy, which is crucial for policymakers and businesses.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to inform decisions around economic development, fiscal policies, and market trends in Tennessee.
Q: Are there update delays or limitations?
A: The data is published quarterly by the Bureau of Economic Analysis, with a typical 2-3 month delay.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Private Services-Providing Industries in Tennessee (TNPRISERVPROQGSP), retrieved from FRED.