Gross Domestic Product: Computer Systems Design and Related Services (5415) in Hawaii
HICPUSYSDSGNNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
910.90
Year-over-Year Change
66.71%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the computer systems design and related services industry in Hawaii. It provides insights into the performance and contribution of this key technology sector to the state's economy.
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: Computer Systems Design and Related Services (5415) in Hawaii series tracks the total value of goods and services produced by businesses in this industry within the state. It is an important indicator of economic activity and growth in the technology and software development sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP statistics.
Historical Context
This trend is widely used by policymakers, industry analysts, and economists to assess the health and competitiveness of Hawaii's technology industry.
Key Facts
- Hawaii's computer systems design industry accounts for over 3% of the state's GDP.
- This sector has seen strong growth in recent years, outpacing the overall state economy.
- The COVID-19 pandemic had a significant impact on this industry in Hawaii, causing a sharp decline in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of goods and services produced by businesses in the computer systems design and related services industry within the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and contribution of Hawaii's technology sector, which is a key driver of economic growth and competitiveness in the state.
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 statistics.
Q: How is this trend used in economic policy?
A: Policymakers, industry analysts, and economists use this trend to assess the health and competitiveness of Hawaii's technology industry, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: This data is published quarterly by the Bureau of Economic Analysis, with a typical delay of several months between the end of the reference period and the data release.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Computer Systems Design and Related Services (5415) in Hawaii (HICPUSYSDSGNNGSP), retrieved from FRED.