Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Colorado
COOTHSERVENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,960.80
Year-over-Year Change
107.17%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) of the other services (except government and government enterprises) sector in Colorado. It provides insight into the performance and contribution of this industry to the state's overall economic activity.
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 other services (except government and government enterprises) sector includes various personal and professional services, such as repair and maintenance, personal and laundry services, and religious, grantmaking, civic, professional, and similar organizations. This data series helps economists and policymakers assess the health and growth of this important service-oriented industry within Colorado's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts methodology.
Historical Context
This trend is used by economists, businesses, and policymakers to understand the dynamics of Colorado's service sector and its role in the state's overall economic performance.
Key Facts
- Colorado's other services sector accounts for over 4% of the state's GDP.
- This industry has experienced steady growth in recent years, outpacing the overall state economy.
- The other services sector is a significant employer in Colorado, providing jobs in a diverse range of personal and professional occupations.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the other services (except government and government enterprises) sector in the state of Colorado.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and contribution of Colorado's service-oriented industries, which are a significant part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts methodology.
Q: How is this trend used in economic policy?
A: Economists, businesses, and policymakers use this trend to understand the dynamics of Colorado's service sector and its role in the state's overall economic performance, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and potential revisions as other Bureau of Economic Analysis GDP statistics, which are typically released on a quarterly basis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Colorado (COOTHSERVENGSP), retrieved from FRED.