Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Minnesota
MNOTHSERVENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,066.30
Year-over-Year Change
79.65%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) contribution of the other services sector, excluding government and government enterprises, in the state of Minnesota. It provides insight into the performance and growth of this key component of the state's economy.
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 other services sector, excluding government and government enterprises, encompasses a wide range of economic activities such as personal services, repair and maintenance, and religious and civic organizations. Tracking the GDP contribution of this sector helps economists and policymakers understand the overall health and composition of Minnesota's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its comprehensive GDP reporting for states and regions.
Historical Context
This trend is used by economists, policymakers, and businesses to analyze the economic conditions and growth drivers in Minnesota.
Key Facts
- Minnesota's other services sector accounts for a significant portion of its GDP.
- This sector has experienced steady growth in recent years, contributing to the state's economic expansion.
- Monitoring the GDP contribution of other services helps identify emerging trends and opportunities in Minnesota's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contribution of the other services sector, excluding government and government enterprises, in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: Tracking the GDP contribution of the other services sector provides valuable insights into the overall health and growth of Minnesota's economy, which is important for economists, policymakers, and businesses.
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 comprehensive GDP reporting for states and regions.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and businesses to analyze the economic conditions and growth drivers in Minnesota, which can inform policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedules and potential revisions as the broader GDP reporting for states and regions by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Minnesota (MNOTHSERVENGSP), retrieved from FRED.