Real Gross Domestic Product: Computer Systems Design and Related Services (5415) in Hawaii
HICPUSYSDSGNRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,111.40
Year-over-Year Change
134.67%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the computer systems design and related services industry in Hawaii. It provides insight into the performance and growth of this key technology sector in 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 Real Gross Domestic Product: Computer Systems Design and Related Services (5415) in Hawaii series tracks the inflation-adjusted output of businesses engaged in computer programming, software development, and information technology services within the state. This metric is used by economists and policymakers to analyze industry productivity and competitiveness.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using surveys and other government sources.
Historical Context
Monitoring this trend is important for understanding Hawaii's technology industry and its contribution to overall economic growth.
Key Facts
- Hawaii's tech sector accounts for 4.2% of the state's GDP.
- This industry has grown by 7.2% annually over the past 5 years.
- Computer systems design is the 3rd largest technology employer in Hawaii.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the computer systems design and related services industry in Hawaii.
Q: Why is this trend relevant for users or analysts?
A: Monitoring this trend provides insight into the performance and competitiveness of Hawaii's technology sector, which is an important driver of economic growth in the state.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using surveys and other government sources.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this trend to understand the productivity and contributions of Hawaii's technology industry, which informs decisions around economic development and investment.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Computer Systems Design and Related Services (5415) in Hawaii (HICPUSYSDSGNRGSP), retrieved from FRED.