Chain-Type Quantity Index for Real GDP: All Industry Total in Washington
WAQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
134.06
Year-over-Year Change
10.97%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: All Industry Total in Washington measures the inflation-adjusted output of Washington's economy. It serves as a key indicator of the state's economic health and growth trends.
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) for all industries in the state of Washington. It is a comprehensive measure of economic activity and is widely used by economists and policymakers to analyze Washington's economic performance and forecast future trends.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting practices.
Historical Context
The Washington real GDP index is closely monitored by state government, businesses, and investors to gauge the strength of the local economy and inform policy decisions.
Key Facts
- Washington's real GDP index has grown by over 25% since 2010.
- The state's economy is heavily concentrated in the technology and aerospace sectors.
- Real GDP is a more meaningful measure than nominal GDP, as it accounts for inflation.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: All Industry Total in Washington measures the inflation-adjusted total economic output of the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is a comprehensive indicator of Washington's economic health and performance, providing valuable insights for policymakers, businesses, and investors.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting methodologies.
Q: How is this trend used in economic policy?
A: The Washington real GDP index is closely monitored by state government, businesses, and investors to gauge the strength of the local economy and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months, which is typical for this type of economic indicator.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: All Industry Total in Washington (WAQQGSP), retrieved from FRED.