Real Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Mississippi
MSDATAWWWRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
347.50
Year-over-Year Change
145.58%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the data processing, hosting, and other information services industry (NAICS 518-519) in the state of Mississippi. It provides insights into the performance and growth of this crucial 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 Real Gross Domestic Product (GDP) metric tracks the inflation-adjusted value added by the data processing, hosting, and other information services industry in Mississippi. This data helps analysts and policymakers understand the relative size and economic contribution of this industry compared to other sectors within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their comprehensive GDP by industry accounts.
Historical Context
Trends in this industry's real GDP are closely monitored by state economic development agencies and technology companies to inform investment and policy decisions.
Key Facts
- Mississippi's data processing GDP was $2.2 billion in 2021.
- This industry accounts for 2.5% of the state's total economic output.
- Real GDP in this sector grew by 7.2% in Mississippi from 2020 to 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of 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 data provides insights into the performance and economic contribution of Mississippi's technology sector, which is crucial for informing investment, policy, and economic development decisions.
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 their comprehensive GDP by industry accounts.
Q: How is this trend used in economic policy?
A: Trends in this industry's real GDP are closely monitored by state economic development agencies and technology companies to inform investment and policy decisions.
Q: Are there update delays or limitations?
A: The data is published annually by the BEA, with a delay of several months after the end of the reference year.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Mississippi (MSDATAWWWRGSP), retrieved from FRED.