Real Gross Domestic Product: Private Industries in Colorado
COPIRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
397,855.00
Year-over-Year Change
7.47%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product: Private Industries in Colorado measures the inflation-adjusted economic output of private-sector industries in the state of Colorado. This metric is a key indicator of the overall health and growth of the Colorado economy.
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 represents the total real value added by private industries in Colorado, excluding government activities. It is a useful metric for analyzing the performance and trends in Colorado's private-sector economic activity, which makes up the majority of the state's GDP.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of surveys and economic indicators.
Historical Context
Policymakers and analysts use this metric to assess the strength of Colorado's private economy and make informed decisions about economic policy.
Key Facts
- Colorado's private industries account for over 80% of the state's GDP.
- Real GDP for Colorado's private sector grew by 3.2% in 2021.
- The construction and professional services sectors are major contributors to Colorado's private industry GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total real (inflation-adjusted) value added by private industries in the state of Colorado, excluding government activities.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the overall health and growth of Colorado's private-sector economy, which is a key driver of the state's economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of surveys and economic indicators.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the strength of Colorado's private economy and make informed decisions about economic policy and initiatives.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately two months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Private Industries in Colorado (COPIRQGSP), retrieved from FRED.