Real Gross Domestic Product: Computer Systems Design and Related Services (5415) in Idaho
IDCPUSYSDSGNRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,668.90
Year-over-Year Change
503.58%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Computer Systems Design and Related Services (5415) in Idaho measures the inflation-adjusted economic output of this industry in the state. It is a key indicator of the health and growth of the technology sector.
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 represents the real, inflation-adjusted value of goods and services produced by computer systems design and related services businesses in Idaho. It is used by economists and policymakers to assess the contribution of the tech industry to the state's overall economic activity.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of businesses in this industry.
Historical Context
Trends in this metric are closely watched by state officials and tech industry leaders to gauge Idaho's competitiveness in the sector.
Key Facts
- Idaho's tech industry accounts for over 10% of the state's GDP.
- The computer systems design sector has grown by 7% annually in Idaho over the past 5 years.
- Idaho ranks among the top 10 states for tech industry employment and growth.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real, inflation-adjusted gross domestic product (GDP) generated by the computer systems design and related services industry in the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the performance and contribution of Idaho's technology sector to the overall state economy, which is crucial for economic policymaking and business investment decisions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys of businesses in the computer systems design and related services industry in Idaho.
Q: How is this trend used in economic policy?
A: State officials and economic development agencies use this metric to assess the competitiveness of Idaho's tech sector and inform policies and incentives to attract and retain technology businesses.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Computer Systems Design and Related Services (5415) in Idaho (IDCPUSYSDSGNRGSP), retrieved from FRED.