Real Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Maryland
MDDATAWWWRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,556.00
Year-over-Year Change
123.59%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) for the data processing, hosting, and other information services industry in Maryland. It provides insights into the economic performance and growth of this key 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
The Real Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Maryland trend tracks the inflation-adjusted output of this industry within the state's economy. It is a valuable indicator for policymakers and analysts to assess the health and competitiveness of Maryland's information technology and digital services sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Historical Context
This trend is closely monitored by economic and policy stakeholders to understand the state's technological capabilities and competitiveness.
Key Facts
- Maryland's data processing and information services sector accounts for over 3% of the state's GDP.
- This industry has experienced steady growth, outpacing the overall state economy in recent years.
- The sector's performance is closely tied to the growth of the broader technology and digital economy in Maryland.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the data processing, hosting, and other information services industry in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and growth of Maryland's key information technology and digital services sectors, which are crucial for understanding the state's technological capabilities and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by economic and policy stakeholders to understand the state's technological capabilities and competitiveness, which informs policy decisions and economic development strategies.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and potential revisions as the Bureau of Economic Analysis's broader regional GDP estimates.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Maryland (MDDATAWWWRGSP), retrieved from FRED.