Real Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Florida
FLOTHSERVERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27,249.50
Year-over-Year Change
14.81%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the real gross domestic product (GDP) of the other services sector, excluding government and government enterprises, in the state of Florida. It provides insights into the economic performance of this important non-governmental services industry within the state.
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 sector encompasses a wide range of economic activities, such as personal care services, religious organizations, and repair and maintenance services. Tracking the real GDP of this sector in Florida can help policymakers and analysts understand the state's economic composition and growth drivers.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its state-level GDP estimates.
Historical Context
This metric is used by economists and policymakers to assess the overall health and performance of Florida's economy.
Key Facts
- Florida's other services sector accounts for over 10% of the state's GDP.
- This sector has seen steady growth in recent years, outpacing the overall state economy.
- The other services industry is a major employer in Florida, providing jobs for over 500,000 workers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the other services sector, excluding government and government enterprises, in the state of Florida.
Q: Why is this trend relevant for users or analysts?
A: Tracking the real GDP of the other services sector in Florida provides insights into the economic performance of this important non-governmental services industry within the state, which can help policymakers and analysts assess the overall health and composition of the Florida economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its state-level GDP estimates.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to assess the overall health and performance of Florida's economy, as the other services sector is a significant contributor to the state's GDP and employment.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be revisions to previous estimates as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Florida (FLOTHSERVERGSP), retrieved from FRED.