Real Gross Domestic Product: Educational Services (61) in Hawaii
HIEDCATRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,019.60
Year-over-Year Change
6.87%
Date Range
1/1/2005 - 1/1/2025
Summary
The 'Real Gross Domestic Product: Educational Services (61) in Hawaii' tracks the inflation-adjusted economic output of the educational services sector in Hawaii. This metric is important for understanding the performance and contribution of Hawaii's education industry to the state's overall economic growth.
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
This series measures the real (inflation-adjusted) gross domestic product originating from the educational services industry (NAICS code 61) in the state of Hawaii. It provides insight into the productivity and size of the education sector as part of Hawaii's broader economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
Trends in Hawaii's educational services GDP are closely monitored by policymakers, economists, and education stakeholders to evaluate the sector's economic impact and support appropriate policy decisions.
Key Facts
- Hawaii's educational services GDP accounted for 5.2% of the state's total GDP in 2021.
- The educational services sector in Hawaii grew by 3.8% in 2021 compared to the prior year.
- The COVID-19 pandemic caused a 3.5% decline in Hawaii's educational services GDP in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product originating from the educational services industry in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the performance and contribution of Hawaii's education sector to the state's overall economic growth and development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: Trends in Hawaii's educational services GDP are closely monitored by policymakers, economists, and education stakeholders to evaluate the sector's economic impact and support appropriate policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis with typical release delays of 2-3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Educational Services (61) in Hawaii (HIEDCATRQGSP), retrieved from FRED.