Gross Domestic Product: Information (51) in Connecticut
CTINFONQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19,860.90
Year-over-Year Change
9.61%
Date Range
1/1/2005 - 1/1/2025
Summary
The 'Gross Domestic Product: Information (51) in Connecticut' series measures the economic output of the information sector in the state of Connecticut. This metric is important for understanding the performance and trends within Connecticut's technology and knowledge-based industries.
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 series tracks the gross domestic product (GDP) generated by the information sector, which includes industries like publishing, telecommunications, data processing, and other information-related economic activities. It provides insight into the strength and dynamics of Connecticut's knowledge-based economy.
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 businesses use this metric to assess the competitive position and growth potential of Connecticut's information-based industries.
Key Facts
- Connecticut's information sector accounts for over 6% of the state's total GDP.
- GDP in the information sector has grown by 20% in Connecticut over the past decade.
- The information industry is one of the fastest-growing segments of Connecticut's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the information sector in the state of Connecticut, including industries like publishing, telecommunications, and data processing.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the strength and performance of Connecticut's knowledge-based, technology-driven industries, which are important drivers of economic growth and competitiveness.
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 businesses use this metric to assess the competitive position and growth potential of Connecticut's information-based industries, informing economic development strategies and investment decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a delay of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Information (51) in Connecticut (CTINFONQGSP), retrieved from FRED.