Gross Domestic Product: Private Services-Providing Industries in Mississippi
MSPRISERVPRONGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
99,302.80
Year-over-Year Change
68.39%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Private Services-Providing Industries in Mississippi measures the economic output of the private services sector in the state. It is a key indicator of Mississippi's overall economic health and performance.
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 value added by the private services industries in Mississippi, which include trade, transportation, utilities, information, financial activities, professional and business services, education, health care, and other services. It provides insights into the composition and growth of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional economic accounts.
Historical Context
Policymakers and analysts use this trend to assess the economic conditions and development in Mississippi and compare it to national trends.
Key Facts
- Mississippi's private services sector accounts for over 60% of the state's GDP.
- The services industry has been the primary driver of economic growth in Mississippi in recent years.
- The COVID-19 pandemic had a significant impact on the state's private services-providing industries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the value added by the private services-providing industries in the state of Mississippi, including trade, transportation, utilities, information, and other services.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the composition and performance of Mississippi's economy, which is crucial for policymakers, businesses, and investors to understand the state's economic conditions 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 as part of its regional economic accounts.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the economic conditions and development in Mississippi and compare it to national trends, which can inform policy decisions and economic development strategies.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions and may have a delay of several months before the latest information is available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Private Services-Providing Industries in Mississippi (MSPRISERVPRONGSP), retrieved from FRED.