Gross Domestic Product: Information (51) in North Dakota
NDINFONQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,712.30
Year-over-Year Change
10.64%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Information (51) in North Dakota series measures the total economic output of the information sector in North Dakota. This metric is crucial for understanding the state's economic composition and growth trends.
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 Information (51) sector includes industries such as publishing, telecommunications, data processing, and other information services. Tracking this GDP component provides insights into the role of technology and knowledge-based industries in North Dakota's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their state-level GDP estimates.
Historical Context
Policymakers and analysts use this metric to assess the competitiveness and diversification of North Dakota's economy.
Key Facts
- North Dakota's information sector GDP was $4.6 billion in 2021.
- The information sector accounts for 6.4% of North Dakota's total GDP.
- This GDP component has grown by 23% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Information (51) in North Dakota series measures the total economic output of the information sector in the state, including industries like publishing, telecommunications, and data processing.
Q: Why is this trend relevant for users or analysts?
A: Tracking this GDP component provides insights into the role of technology and knowledge-based industries in North Dakota's economy, which is crucial for understanding the state's economic composition and growth trends.
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 state-level GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the competitiveness and diversification of North Dakota's economy, which informs economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, with a delay of approximately 3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Information (51) in North Dakota (NDINFONQGSP), retrieved from FRED.