Chain-Type Quantity Index for Real GDP: Military in Utah
UTGOVFEDMILQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
98.02
Year-over-Year Change
-11.13%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Military in Utah measures the volume of military-related economic activity within the state. This metric is important for economists and policymakers analyzing regional economic trends and the impacts of federal spending.
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 represents the inflation-adjusted volume of military-related goods and services produced in Utah, a key component of the state's overall economic output. It is used to track the contribution of the military sector to Utah's gross domestic product over time.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to adjust for price changes.
Historical Context
Trends in this index provide insights into the role of federal military spending in Utah's economy and can inform policy decisions around regional economic development.
Key Facts
- Utah has a large military presence, with several major bases and defense contractors.
- The military sector accounts for a significant portion of Utah's economic output.
- This index helps track the contribution of military activity to the state's GDP.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Military in Utah measures the volume of military-related economic activity within the state of Utah, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the role of the military sector in Utah's regional economy and how federal spending impacts the state's overall economic output.
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 adjust for price changes.
Q: How is this trend used in economic policy?
A: Trends in this index provide insights that can inform policy decisions around regional economic development, particularly related to the impacts of federal military spending in Utah.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions by the Bureau of Economic Analysis, and there may be lags in the availability of the most recent information.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Military in Utah (UTGOVFEDMILQGSP), retrieved from FRED.