Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in the Great Lakes BEA Region
GLAKOTHSERVENQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
87,258.40
Year-over-Year Change
21.18%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the gross domestic product (GDP) of the Other Services (Except Government and Government Enterprises) sector in the Great Lakes Bureau of Economic Analysis (BEA) region. It provides insight into the economic activity and productivity of this important service industry.
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 (Except Government and Government Enterprises) sector includes a diverse range of businesses, such as personal care services, religious organizations, and repair and maintenance services. Tracking the GDP of this sector helps analysts and policymakers understand the broader economic landscape of the Great Lakes region.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
This economic indicator is used by government agencies, economists, and market analysts to assess the health and trends within the Great Lakes regional economy.
Key Facts
- The Great Lakes region accounts for over 20% of U.S. GDP.
- The Other Services sector comprises approximately 4% of the region's GDP.
- GDP growth in this sector has outpaced overall regional GDP in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the Other Services (Except Government and Government Enterprises) sector in the Great Lakes Bureau of Economic Analysis (BEA) region.
Q: Why is this trend relevant for users or analysts?
A: Tracking the GDP of the Other Services sector provides insight into the economic activity and productivity of this diverse industry, which is an important component of the broader Great Lakes regional 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 their regional GDP estimates.
Q: How is this trend used in economic policy?
A: This economic indicator is used by government agencies, economists, and market analysts to assess the health and trends within the Great Lakes regional economy and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis by the U.S. Bureau of Economic Analysis, with potential for minor delays in release.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in the Great Lakes BEA Region (GLAKOTHSERVENQGSP), retrieved from FRED.