Gross Domestic Product: Miscellaneous Professional, Scientific, and Technical Services (5412-5414, 5416-5419) in Hawaii
HIMISCPRONGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,175.40
Year-over-Year Change
63.42%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the Gross Domestic Product (GDP) of the Miscellaneous Professional, Scientific, and Technical Services industry in Hawaii. It provides valuable insights into the performance and productivity of this critical sector of 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 Miscellaneous Professional, Scientific, and Technical Services industry encompasses a diverse range of professional services, including legal, accounting, consulting, research, and other specialized activities. This GDP trend is used by economists and policymakers to assess the overall health and growth of this industry and its contribution to Hawaii's economic output.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using various economic surveys and government records.
Historical Context
This trend is closely monitored by government agencies, businesses, and investors to understand the dynamics of Hawaii's professional services sector and its impact on the state's economic landscape.
Key Facts
- Hawaii's professional services sector accounts for a significant portion of the state's GDP.
- This industry has experienced steady growth in recent years, reflecting the increasing demand for specialized expertise.
- The performance of the Miscellaneous Professional, Scientific, and Technical Services industry is closely tied to the overall economic conditions in Hawaii.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) of the Miscellaneous Professional, Scientific, and Technical Services industry in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and productivity of a critical sector of Hawaii's economy, which is crucial for understanding the state's overall economic health and growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using various economic surveys and government records.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by government agencies, businesses, and investors to understand the dynamics of Hawaii's professional services sector and its impact on the state's economic landscape, which can inform economic policies and investment decisions.
Q: Are there update delays or limitations?
A: The data may be subject to periodic updates and revisions by the U.S. Bureau of Economic Analysis, which should be considered when interpreting the trend.
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HIMPRPPSERVEOTH
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Real Gross Domestic Product: Wholesale Trade (42) in Hawaii
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State Government Tax Collections, Hunting and Fishing Licenses in Hawaii
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Number of Identified Exporters to Anguilla from Hawaii
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Pandemic Emergency Unemployment Compensation Continued Claims in Hawaii
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Citation
U.S. Federal Reserve, Gross Domestic Product: Miscellaneous Professional, Scientific, and Technical Services (5412-5414, 5416-5419) in Hawaii (HIMISCPRONGSP), retrieved from FRED.