Gross Domestic Product: Management of Companies and Enterprises (55) in Illinois
ILMNGCOENTPRNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19,051.20
Year-over-Year Change
19.52%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the gross domestic product (GDP) for the management of companies and enterprises sector in Illinois. It provides valuable insights into the performance and contribution of this industry to the state's overall economic activity.
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 GDP for the management of companies and enterprises sector in Illinois represents the total value of goods and services produced by this industry within the state. This metric is widely used by economists and policymakers to analyze the economic health and productivity of the management and administrative services sector in Illinois.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including surveys and economic census data.
Historical Context
This trend is important for understanding the role of the management and administrative services industry in Illinois' economy and its impact on overall economic performance.
Key Facts
- The management of companies and enterprises sector accounts for approximately 5% of Illinois' total GDP.
- This industry has experienced steady growth in Illinois over the past decade.
- The GDP for this sector is considered a key indicator of the state's business services and administrative support activities.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) for the management of companies and enterprises sector in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and contribution of the management and administrative services industry to Illinois' overall economic activity, which is important for understanding the state's economic health and development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including surveys and economic census data.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and analysts to assess the role and impact of the management and administrative services sector on Illinois' overall economic performance, which can inform policy decisions and economic development strategies.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential delays in availability. Additionally, the trend may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Management of Companies and Enterprises (55) in Illinois (ILMNGCOENTPRNQGSP), retrieved from FRED.