Real Gross Domestic Product: Information (51) in North Carolina
NCINFORGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31,147.40
Year-over-Year Change
150.92%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: Information (51) in North Carolina' trend measures the inflation-adjusted economic output of the information sector in North Carolina. This metric is a key indicator of the state's economic health and competitiveness in the information technology and services industries.
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 real GDP generated by the information industry, which includes publishing, telecommunications, data processing, and other information-related economic activities within North Carolina. Economists and policymakers monitor this trend to assess the growth and productivity of a critical sector driving technological innovation and digital transformation.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using surveys and economic models.
Historical Context
Policymakers and business leaders use this information to understand North Carolina's economic strengths, guide investment and workforce decisions, and inform strategies for fostering a thriving information technology hub.
Key Facts
- North Carolina's information sector accounts for over 7% of the state's total GDP.
- The information industry in North Carolina has grown by 3.2% annually over the past decade.
- The state ranks 5th nationally in terms of information sector GDP per capita.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) generated by the information industry in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the strength and growth of North Carolina's information and technology sectors, which are key drivers of economic development and competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using surveys and economic models.
Q: How is this trend used in economic policy?
A: Policymakers and business leaders use this information to guide investment, workforce, and industry development strategies to foster growth in North Carolina's technology and information sectors.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of approximately three months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Information (51) in North Carolina (NCINFORGSP), retrieved from FRED.