Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Mississippi
MSOTHSERVENQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,681.20
Year-over-Year Change
14.75%
Date Range
1/1/2005 - 1/1/2025
Summary
The 'Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Mississippi' trend measures the economic output of the other services sector in Mississippi, excluding government and government enterprises.
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 metric provides insight into the performance and contribution of the other services industry, such as personal care, laundry, and repair services, to Mississippi's overall economic activity. It is an important indicator for understanding the state's economic composition and growth drivers.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their GDP by state estimates.
Historical Context
Policymakers and economists analyze this trend to gauge the strength and dynamics of Mississippi's service-oriented industries.
Key Facts
- Mississippi's other services sector accounts for approximately 5% of the state's total GDP.
- This trend has shown steady growth over the past decade, indicating the increasing importance of the service industry in the state's economy.
- The other services sector is the third-largest private industry in Mississippi, behind manufacturing and retail trade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the economic output of the other services sector in Mississippi, excluding government and government enterprises. It provides insights into the performance and contribution of industries such as personal care, laundry, and repair services to the state's overall GDP.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the dynamics and composition of Mississippi's economy, as the other services sector is an important driver of economic activity in the state. Analysts and policymakers use this data to assess the strength and growth of the service industry in Mississippi.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their GDP by state estimates.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this trend to gauge the strength and dynamics of Mississippi's service-oriented industries, which can inform economic development strategies and policies aimed at supporting the growth of the state's service sector.
Q: Are there update delays or limitations?
A: The GDP by state data, including the other services sector trend for Mississippi, is typically released with a lag of several months. This may result in a delay in the availability of the most recent data.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Mississippi (MSOTHSERVENQGSP), retrieved from FRED.