Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Mississippi
MSDATAWWWNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
304.20
Year-over-Year Change
103.48%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) for the data processing, hosting, and other information services industry in Mississippi. It provides insights into the performance and growth of this critical technology sector 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 GDP for data processing, hosting, and other information services in Mississippi represents the total value of goods and services produced by this industry. It is an important indicator of the state's technological and digital economic capabilities, as well as its competitiveness in the broader information services landscape.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Historical Context
This trend is closely monitored by policymakers, industry analysts, and economic development organizations to assess Mississippi's technological and digital infrastructure and its ability to attract and retain technology-focused businesses.
Key Facts
- Mississippi's data processing and hosting GDP was $1.8 billion in 2021.
- This industry accounted for 2.6% of the state's total GDP in 2021.
- The data processing and hosting sector in Mississippi has grown by 14% since 2016.
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 in the state of Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and growth of Mississippi's technology and digital services sector, which is a key driver of economic development and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Q: How is this trend used in economic policy?
A: Policymakers, industry analysts, and economic development organizations closely monitor this trend to assess Mississippi's technological and digital infrastructure and its ability to attract and retain technology-focused businesses.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, but there may be some delays in the release of the most recent figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Mississippi (MSDATAWWWNGSP), retrieved from FRED.