Gross Domestic Product: Utilities (22) in Colorado
COUTILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,661.80
Year-over-Year Change
76.27%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) of the utilities sector in Colorado. It provides important insights into the performance and contribution of the utilities 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 Gross Domestic Product: Utilities (22) in Colorado series tracks the value-added output of the utilities sector, which includes electric power, natural gas, water, and sewage services. This metric is widely used by economists and policymakers to analyze the economic health and competitiveness of Colorado's utilities industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for understanding the role of the utilities sector in Colorado's economy and informing policy decisions related to infrastructure, energy, and resource management.
Key Facts
- Colorado's utilities sector accounts for approximately 2% of the state's total GDP.
- The utilities industry in Colorado employs over 15,000 workers.
- Utilities GDP in Colorado has grown by an average of 3% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the utilities sector in the state of Colorado, which includes electric power, natural gas, water, and sewage services.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and contribution of the utilities industry to Colorado's overall economic activity, which is relevant for policymakers, investors, and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the economic health and competitiveness of Colorado's utilities sector, which informs decision-making related to infrastructure, energy, and resource management.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with a lag of approximately 3 months. There may be some limitations in capturing the full scope of the utilities industry due to data collection challenges.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Utilities (22) in Colorado (COUTILNGSP), retrieved from FRED.