Real Gross Domestic Product: Administrative and Support Services (561) in Oregon
ORADMINSUPRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,397.60
Year-over-Year Change
68.77%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the administrative and support services industry in Oregon. 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 Real Gross Domestic Product: Administrative and Support Services (561) in Oregon is a key indicator that tracks the inflation-adjusted output of the administrative and support services industry in the state. This metric is widely used by economists and policymakers to assess the health and growth of this service-oriented sector within Oregon's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Trends in administrative and support services GDP are closely monitored by businesses, investors, and government agencies to understand the state's economic landscape and inform policy decisions.
Key Facts
- Oregon's administrative and support services industry accounts for approximately 5% of the state's total GDP.
- This sector has experienced steady growth over the past decade, outpacing the overall state economy.
- The COVID-19 pandemic had a significant impact on administrative and support services, leading to a sharp decline in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the administrative and support services industry in the state of Oregon.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and contribution of the administrative and support services sector, which is an important component of Oregon's overall economic activity and growth.
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: Trends in administrative and support services GDP are closely monitored by businesses, investors, and government agencies to understand the state's economic landscape and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions by the data source, and there may be some delay in the most recent updates being available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Administrative and Support Services (561) in Oregon (ORADMINSUPRGSP), retrieved from FRED.