Real Gross Domestic Product: Private Services-Providing Industries in Missouri
MOPRISERVPRORGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
256,791.80
Year-over-Year Change
23.73%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product: Private Services-Providing Industries in Missouri measures the economic output of the private services sector in the state. This metric is important for economists and policymakers to understand the strength and resilience of Missouri'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
This series tracks the real, inflation-adjusted GDP generated by private services industries in Missouri, such as finance, healthcare, and retail. It provides insight into the dominant service-oriented sectors of the state's economy and how they contribute to overall economic growth.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
Economists and policymakers use this metric to assess the health and trajectory of Missouri's economy and inform decisions around economic development, fiscal policy, and investment.
Key Facts
- Missouri's private services sector accounts for over 60% of the state's total GDP.
- The services-providing industries have exhibited steady growth over the past decade.
- This metric is a key indicator of the state's economic diversification and resilience.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real, inflation-adjusted GDP generated by private services-providing industries in the state of Missouri, such as finance, healthcare, and retail.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insight into the strength and resilience of Missouri's economy, as the services sector is the dominant driver of economic activity in the state.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to assess the health and trajectory of Missouri's economy and inform decisions around economic development, fiscal policy, and investment.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical delay of 2-3 months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Private Services-Providing Industries in Missouri (MOPRISERVPRORGSP), retrieved from FRED.