Real Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Montana
MTOTHSERVERQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,125.40
Year-over-Year Change
-8.33%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) for the other services (except government and government enterprises) industry in Montana. It is an important indicator of economic activity and productivity in the state.
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 other services (except government and government enterprises) industry includes a diverse range of businesses such as personal services, repair and maintenance, and religious organizations. Tracking the real GDP of this sector provides insights into the overall health and performance of Montana's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric is used by policymakers, analysts, and businesses to gauge the economic conditions and growth trends in Montana.
Key Facts
- The other services industry accounts for approximately 3% of Montana's GDP.
- Real GDP for this sector grew by 2.5% in 2021 compared to the previous year.
- The COVID-19 pandemic had a significant impact on this industry, with a 5.8% decline in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the other services (except government and government enterprises) industry in Montana.
Q: Why is this trend relevant for users or analysts?
A: Tracking the real GDP of the other services industry provides insights into the overall health and performance of Montana's economy, which is valuable for policymakers, analysts, and businesses.
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 accounting principles.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers, analysts, and businesses to gauge the economic conditions and growth trends in Montana, which can inform policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with occasional revisions. There may be some delays in the availability of the most recent data.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Montana (MTOTHSERVERQGSP), retrieved from FRED.