Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Missouri
MODATAWWWNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,929.20
Year-over-Year Change
36.84%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the Gross Domestic Product (GDP) for the data processing, hosting, and other information services industry (NAICS sectors 518-519) in the state of Missouri. It provides insights into the economic activity and growth of this key technology-driven sector within the state.
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 GDP for data processing, hosting, and other information services in Missouri represents the total value of goods and services produced by this industry, a crucial component of the state's economy. This metric is used by economists and policymakers to analyze the performance and contribution of this industry to Missouri's overall economic growth and development.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is particularly relevant for understanding the role of technology and information services in Missouri's economy and informing economic development strategies.
Key Facts
- Missouri's data processing and information services industry accounts for over 3% of the state's total GDP.
- This sector has experienced steady growth, with an average annual increase of 4.5% over the past decade.
- The data processing and information services industry employs over 35,000 workers in Missouri.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) for the data processing, hosting, and other information services industry (NAICS sectors 518-519) in the state of Missouri.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic activity and growth of a key technology-driven sector within Missouri, which is crucial for understanding the state's overall economic performance and development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is particularly relevant for understanding the role of technology and information services in Missouri's economy and informing economic development strategies.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for delays in the release of the latest figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Missouri (MODATAWWWNGSP), retrieved from FRED.