Gross Domestic Product: Miscellaneous Professional, Scientific, and Technical Services (5412-5414, 5416-5419) in Nebraska
NEMISCPRONGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,567.60
Year-over-Year Change
74.18%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the miscellaneous professional, scientific, and technical services industry in Nebraska. It provides insights into the performance and contribution of this sector to the state's overall economic activity.
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 NEMISCPRONGSP series tracks the GDP generated by establishments engaged in activities such as legal services, accounting, architecture, engineering, and specialized design services in Nebraska. This data is used by economists and policymakers to analyze the state's economic structure and trends within the professional services industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Historical Context
This trend is relevant for understanding the economic health and competitiveness of Nebraska's professional services sector, which is an important driver of the state's overall economic performance.
Key Facts
- Nebraska's professional services GDP reached $7.2 billion in 2020.
- This sector accounts for over 10% of the state's total economic output.
- The professional services industry has experienced steady growth in Nebraska over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the miscellaneous professional, scientific, and technical services industry in the state of Nebraska.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and contribution of Nebraska's professional services sector, which is an important driver of the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the structure and competitiveness of Nebraska's professional services industry, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for minor delays in publication.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Miscellaneous Professional, Scientific, and Technical Services (5412-5414, 5416-5419) in Nebraska (NEMISCPRONGSP), retrieved from FRED.