Real Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Minnesota
MNOTHSERVERQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,088.20
Year-over-Year Change
-8.93%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real (inflation-adjusted) gross domestic product (GDP) of the 'Other Services (Except Government and Government Enterprises)' sector in the state of Minnesota. It provides insights into the performance and growth of a key service industry within 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 (Except Government and Government Enterprises)' sector includes a diverse range of businesses such as personal care services, professional associations, repair and maintenance, and private households. Analyzing the real GDP of this sector can help economists and policymakers understand the broader economic conditions and growth dynamics within Minnesota.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its Regional Economic Accounts program.
Historical Context
This economic trend is widely used by analysts, investors, and policymakers to assess the health and development of Minnesota's service-based economy.
Key Facts
- The 'Other Services' sector accounts for over 4% of Minnesota's total GDP.
- Minnesota's 'Other Services' GDP has grown by an average of 2.5% annually over the past decade.
- The 'Other Services' sector is the fifth-largest contributor to Minnesota's overall economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the 'Other Services (Except Government and Government Enterprises)' sector in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: Analyzing the real GDP of the 'Other Services' sector provides insights into the performance and growth dynamics of a key service industry within Minnesota's economy, which is valuable for economists, policymakers, and investors.
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 Economic Accounts program.
Q: How is this trend used in economic policy?
A: This economic trend is widely used by analysts, investors, and policymakers to assess the health and development of Minnesota's service-based economy, which can inform economic policy decisions and investments.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 3-4 months from the end of the reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Minnesota (MNOTHSERVERQGSP), retrieved from FRED.