Chain-Type Quantity Index for Real GDP: Data Processing, Hosting, and Other Information Services (518-519) in Florida
FLDATAWWWQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
271.43
Year-over-Year Change
205.04%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Data Processing, Hosting, and Other Information Services (518-519) in Florida measures the real output of this economic sector in the state. It is an important indicator for tracking growth and productivity in Florida's technology and information services 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 index tracks the volume of goods and services produced by the data processing, hosting, and information services industries in Florida, adjusted for inflation. It provides insight into the productivity and economic importance of this sector within the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and business analysts use this index to monitor trends in Florida's technology and information services industries.
Key Facts
- Florida's data processing and information services account for over 5% of the state's GDP.
- This index has grown by an average of 3.2% annually over the past decade.
- The information services sector is one of the fastest-growing parts of Florida's economy.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of Florida's data processing, hosting, and other information services industries.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into the productivity and economic importance of Florida's technology and information services sectors.
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 business analysts use this index to monitor trends in Florida's technology and information services industries.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 2-3 month delay.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Data Processing, Hosting, and Other Information Services (518-519) in Florida (FLDATAWWWQGSP), retrieved from FRED.