Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Hawaii
HIDATAWWWNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
431.50
Year-over-Year Change
236.58%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the Gross Domestic Product (GDP) for the data processing, hosting, and other information services industry (NAICS 518-519) in the state of Hawaii. It provides insights into the performance and growth of this key technology-focused sector within Hawaii'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 HIDATAWWWNGSP series represents the GDP, or total economic output, generated by businesses in Hawaii that provide data processing, hosting, and other information services. This metric is used by economists and policymakers to analyze the relative importance and trends within this technology-driven industry as part of the broader state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on surveys and economic modeling.
Historical Context
This GDP trend for the information services sector is relevant for understanding Hawaii's technology industry competitiveness and economic diversification efforts.
Key Facts
- Hawaii's information services GDP was $2.3 billion in 2021.
- This sector accounts for 2.7% of Hawaii's total economic output.
- GDP in this industry grew by 5.1% in Hawaii from 2020 to 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) for the data processing, hosting, and other information services industry (NAICS 518-519) in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This GDP metric provides insights into the performance and growth of Hawaii's technology-focused information services sector, which is an important part of the state's economic diversification efforts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: This information services GDP trend is relevant for understanding Hawaii's technology industry competitiveness and economic diversification efforts from policymakers and analysts.
Q: Are there update delays or limitations?
A: The data is published quarterly by the BEA with a lag of several months, so there may be a delay in accessing the most recent figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Hawaii (HIDATAWWWNGSP), retrieved from FRED.