Real Gross Domestic Product: Educational Services (61) in Minnesota
MNEDCATRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,856.40
Year-over-Year Change
5.64%
Date Range
1/1/2005 - 1/1/2025
Summary
The 'Real Gross Domestic Product: Educational Services (61) in Minnesota' trend measures the inflation-adjusted economic output of the educational services industry in Minnesota. This metric is important for analyzing the health and growth of the state's education 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) gross domestic product (GDP) originating from the educational services industry in the state of Minnesota. It is a key indicator of the economic performance and contribution of the education sector to Minnesota's overall economic activity.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government and private data sources.
Historical Context
Policymakers and economists use this metric to gauge the strength and trajectory of Minnesota's education industry and its role in the state's broader economic landscape.
Key Facts
- The educational services industry accounts for approximately 3% of Minnesota's total GDP.
- Minnesota's real GDP in educational services has grown by over 20% in the past decade.
- The COVID-19 pandemic had a significant impact on the state's education sector, leading to a decline in real GDP in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted gross domestic product (real GDP) originating from the educational services industry in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the economic performance and contribution of Minnesota's education sector, which is a key component of the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government and private data sources.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to gauge the strength and trajectory of Minnesota's education industry and its role in the state's broader economic landscape.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions and may have a delay of several months between the reference period and the release of the latest figures.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Educational Services (61) in Minnesota (MNEDCATRQGSP), retrieved from FRED.