Real Gross Domestic Product: Information (51) in Hawaii
HIINFORGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,844.30
Year-over-Year Change
107.10%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: Information (51) in Hawaii' measures the inflation-adjusted value of the information sector's economic output in Hawaii. This trend is important for understanding the state's economic composition and performance.
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 tracks the real GDP, or inflation-adjusted total economic output, of the information industry in Hawaii. The information sector includes businesses in publishing, telecommunications, data processing, and other information-related activities. Analyzing this trend provides insights into the role of the information economy in Hawaii's overall economic development.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Historical Context
Policymakers and analysts use this information to assess the strength and competitiveness of Hawaii's information industries.
Key Facts
- Hawaii's information sector accounts for over 5% of the state's total GDP.
- Real information GDP in Hawaii has grown by 20% over the past decade.
- The information industry is the fourth-largest contributor to Hawaii's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the information industry in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: Tracking the performance of Hawaii's information sector provides valuable insights into the state's economic composition and competitiveness in the digital economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this information to assess the strength and growth potential of Hawaii's information industries, which can inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Information (51) in Hawaii (HIINFORGSP), retrieved from FRED.