Gross Domestic Product: Information (51) in Illinois
ILINFONQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
45,063.50
Year-over-Year Change
22.04%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Information (51) in Illinois series measures the inflation-adjusted value added by the information industry in the state's economy. This metric is key for analyzing the performance and contribution of the tech and digital sectors in Illinois.
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 information industry encompasses sectors like publishing, telecommunications, data processing, and other information services. Tracking the GDP contribution of this industry provides insight into the economic structure and competitiveness of Illinois compared to other states.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
Policymakers and economists use this metric to assess the role of technology and information services in the state's economic growth and development.
Key Facts
- Illinois has the 5th largest information industry GDP in the U.S.
- The information sector accounts for 7.2% of Illinois' total GDP.
- Illinois' information industry GDP has grown by 20% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted value added by the information industry, including sectors like publishing, telecommunications, and data processing, to Illinois' gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: Tracking the GDP contribution of the information industry provides insight into the economic structure, competitiveness, and growth of Illinois' tech and digital sectors compared to other states.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the role of technology and information services in Illinois' economic growth and development, and to inform policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis with a lag of several months.
Related Trends
All Employees: Financial Activities: Credit Intermediation and Related Activities Including Monetary Authorities - Central Bank in Illinois
SMU17000005552200001
Housing Inventory: New Listing Count Month-Over-Month in Illinois
NEWLISCOUMMIL
Average Weekly Earnings of All Employees: Leisure and Hospitality in Illinois
SMU17000007000000011
Coefficient for Transportation Carbon Dioxide Emissions, Distillate Fuel for Illinois
EMISSCO2CDFACBILA
All Employees: Manufacturing: Durable Goods: Computer and Electronic Product Manufacturing in Illinois
SMU17000003133400001
All Employees: Retail Trade in Illinois
SMS17000004200000001
Citation
U.S. Federal Reserve, Gross Domestic Product: Information (51) in Illinois (ILINFONQGSP), retrieved from FRED.