Chain-Type Quantity Index for Real GDP: Private Services-Providing Industries in Wisconsin
WIPRISERVPROQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
113.62
Year-over-Year Change
27.37%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the chain-type quantity index for real GDP in Wisconsin's private services-providing industries. It is a key indicator of economic activity and productivity in the state's service sector.
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
The chain-type quantity index for real GDP in Wisconsin's private services-providing industries tracks the volume of output from sectors like finance, healthcare, and retail. This metric is widely used by economists and policymakers to assess the health and growth of the state's service economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Historical Context
This trend is closely monitored by state officials and analysts to inform economic policies and business strategies.
Key Facts
- The index uses 2012 as the base year.
- Wisconsin's private services sector accounts for over 60% of the state's real GDP.
- The trend has shown steady growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in Wisconsin's private services-providing industries, including sectors like finance, healthcare, and retail.
Q: Why is this trend relevant for users or analysts?
A: The private services sector is a critical driver of Wisconsin's economy, so this metric provides important insights into overall economic activity and productivity in the state.
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 methodology.
Q: How is this trend used in economic policy?
A: State officials and analysts closely monitor this trend to inform economic policies and business strategies in Wisconsin.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Private Services-Providing Industries in Wisconsin (WIPRISERVPROQGSP), retrieved from FRED.