Gross Domestic Product: Administrative and Support Services (561) in Missouri
MOADMINSUPNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,139.30
Year-over-Year Change
72.43%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) for the administrative and support services industry (sector 561) in the state of Missouri. It provides valuable insights into the economic activity and performance of this important service 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 administrative and support services industry encompasses a wide range of activities, including office administration, facility support services, employment services, and business support services. This GDP trend offers a comprehensive view of the economic output and contribution of this sector to Missouri's overall economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of its regional economic accounts.
Historical Context
Policymakers and economists use this trend to analyze the health and competitiveness of Missouri's administrative and support services industry within the broader economic landscape.
Key Facts
- Missouri's administrative and support services sector accounts for over 5% of the state's total GDP.
- This industry has experienced steady growth in recent years, outpacing the overall state economy.
- The administrative and support services sector is a major employer in Missouri, providing jobs for over 200,000 workers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) for the administrative and support services industry (sector 561) in the state of Missouri.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the economic performance and contribution of the administrative and support services sector in Missouri, which is an important part of the state's overall economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of its regional economic accounts.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to analyze the health and competitiveness of Missouri's administrative and support services industry within the broader economic landscape, informing policy decisions and economic development strategies.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with a lag of several months. Users should be aware of potential delays in the most recent data points.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Administrative and Support Services (561) in Missouri (MOADMINSUPNGSP), retrieved from FRED.