Chain-Type Quantity Index for Real GDP: Data Processing, Hosting, and Other Information Services (518-519) in Montana
MTDATAWWWQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
304.47
Year-over-Year Change
193.82%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Data Processing, Hosting, and Other Information Services (518-519) in Montana measures the real output of this industry in the state. It is an important indicator for understanding the growth and performance of Montana's technology and information services sector.
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 index tracks the real, inflation-adjusted quantity of goods and services produced by businesses in Montana's data processing, hosting, and other information services industry. It provides insight into the productivity and economic contribution of this key tech-focused sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using national accounts methodology.
Historical Context
Policymakers and economists analyze this index to gauge the health and growth of Montana's information services industry and its role in the state's overall economic performance.
Key Facts
- Montana's information services industry accounts for over 4% of the state's GDP.
- The real output index has grown by an average of 3.5% annually over the past decade.
- The sector employs over 10,000 workers in Montana.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted quantity of goods and services produced by businesses in Montana's data processing, hosting, and other information services industry.
Q: Why is this trend relevant for users or analysts?
A: This index provides insight into the productivity and economic contribution of Montana's key tech-focused information services sector, which is crucial for understanding the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using national accounts methodology.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this index to gauge the health and growth of Montana's information services industry and its role in the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis with a typical 2-month delay.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Data Processing, Hosting, and Other Information Services (518-519) in Montana (MTDATAWWWQGSP), retrieved from FRED.