Gross Domestic Product: Professional, Scientific, and Technical Services (54) in Colorado
COPROBUSNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
63,757.70
Year-over-Year Change
27.01%
Date Range
1/1/2005 - 1/1/2025
Summary
This trend measures the gross domestic product (GDP) from the professional, scientific, and technical services industry in Colorado. It provides insights into the economic performance and growth of this key 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 COPROBUSNQGSP series tracks the GDP contribution of the professional, scientific, and technical services industry in Colorado. This data is valuable for analyzing the state's economic structure, productivity, and competitiveness in this high-skilled services sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and economists use this trend to understand the role of knowledge-intensive industries in Colorado's economic development.
Key Facts
- Colorado's professional services GDP reached $51.8 billion in 2021.
- This sector accounts for over 15% of Colorado's total economic output.
- The professional services industry has seen steady growth in Colorado in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the professional, scientific, and technical services industry in the state of Colorado.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insights into the performance and contribution of Colorado's high-skilled services sector, which is crucial for understanding the state's economic structure 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.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to analyze the role of knowledge-intensive industries in Colorado's economic development and to inform policy decisions.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule by the Bureau of Economic Analysis, but there may be some delays in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Professional, Scientific, and Technical Services (54) in Colorado (COPROBUSNQGSP), retrieved from FRED.