Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Montana
MTDATAWWWNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
291.70
Year-over-Year Change
143.29%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the data processing, hosting, and other information services sector in Montana. It provides valuable insights into the performance and growth of this critical industry 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 of the data processing, hosting, and other information services sector in Montana is an important indicator of the state's technological and digital infrastructure. It captures the economic activity and output generated by businesses and organizations operating in this segment, which is vital for understanding Montana's overall economic landscape.
Methodology
This data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
Policymakers and analysts use this trend to assess the competitiveness and development of Montana's digital economy and make informed decisions about investment, regulation, and economic planning.
Key Facts
- Montana's data processing, hosting, and information services sector accounts for approximately 3% of the state's total GDP.
- This industry has experienced consistent growth in Montana, outpacing the national average over the past decade.
- The data processing and hosting subsector is the largest component, comprising over 60% of the industry's GDP in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the data processing, hosting, and other information services sector in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and growth of Montana's digital and technology-focused industries, which are crucial for understanding the state's overall economic landscape 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 established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the development of Montana's digital economy and make informed decisions about investment, regulation, and economic planning.
Q: Are there update delays or limitations?
A: There may be some delays in the data updates, as the Bureau of Economic Analysis collects and processes the information on a regular schedule.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Montana (MTDATAWWWNGSP), retrieved from FRED.