Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in North Carolina
NCOTHSERVENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18,177.80
Year-over-Year Change
102.53%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) for the 'Other Services (Except Government and Government Enterprises)' sector in North Carolina. This provides valuable insight into the performance and growth of a key service 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 'Other Services (Except Government and Government Enterprises)' sector encompasses a wide range of service-based economic activities, including personal care, repair and maintenance, and religious and civic organizations. Tracking the GDP of this sector helps analysts and policymakers understand the broader service industry dynamics in North Carolina.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP estimates for states and regions.
Historical Context
This economic indicator is widely used by economists, businesses, and government agencies to assess the health and direction of North Carolina's service-based economy.
Key Facts
- North Carolina's 'Other Services' GDP was $36.7 billion in 2021.
- This sector accounts for 3.5% of the state's total economic output.
- GDP in this sector grew by 4.2% in North Carolina from 2020 to 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) for the 'Other Services (Except Government and Government Enterprises)' sector in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: Tracking the GDP of this service-based sector provides valuable insights into the performance and growth dynamics of a key industry within North Carolina's broader economy.
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 their comprehensive GDP estimates for states and regions.
Q: How is this trend used in economic policy?
A: This economic indicator is widely used by economists, businesses, and government agencies to assess the health and direction of North Carolina's service-based economy, which informs policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The GDP data for this sector is typically published on a quarterly basis with some lag, so there may be a delay of several months before the most recent figures are available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in North Carolina (NCOTHSERVENGSP), retrieved from FRED.