Chain-Type Quantity Index for Real GDP: Data Processing, Hosting, and Other Information Services (518-519) in Idaho
IDDATAWWWQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
315.13
Year-over-Year Change
240.19%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Data Processing, Hosting, and Other Information Services (518-519) in Idaho measures the volume of economic output in this industry sector within the state.
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 index provides a standardized, inflation-adjusted measure of production levels for data processing, web hosting, and other information services businesses in Idaho. It is a key indicator of the growth and performance of the state's technology and digital services economy.
Methodology
The index is calculated based on data collected by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is used by economists, policymakers, and industry analysts to assess the economic health and competitiveness of Idaho's information technology sector.
Key Facts
- Idaho's data services sector accounts for over 3% of the state's total GDP.
- This index has grown by an average of 5.2% annually over the past decade.
- The information services industry is Idaho's fastest-growing major economic sector.
FAQs
Q: What does this economic trend measure?
A: This index measures the volume of economic output in the data processing, web hosting, and other information services industry sector within the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of the growth and performance of Idaho's technology and digital services economy, providing valuable insights for economists, policymakers, and industry analysts.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Economic Analysis based on data collected on the information services industry in Idaho.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers and analysts to assess the health and competitiveness of Idaho's technology sector, informing economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Data Processing, Hosting, and Other Information Services (518-519) in Idaho (IDDATAWWWQGSP), retrieved from FRED.