Real Gross Domestic Product: Computer Systems Design and Related Services (5415) in South Dakota
SDCPUSYSDSGNRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
665.90
Year-over-Year Change
420.23%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the computer systems design and related services industry in South Dakota. It provides insights into the performance and growth of this critical technology sector 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 Real Gross Domestic Product: Computer Systems Design and Related Services (5415) in South Dakota trend tracks the inflation-adjusted output of businesses primarily engaged in computer systems design, software development, and information technology services. This data helps economists and policymakers understand the dynamics and competitive position of South Dakota's technology industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend informs decisions related to economic development, technology investments, and workforce policies in South Dakota.
Key Facts
- South Dakota's computer systems design industry accounts for over 5% of the state's GDP.
- This sector has experienced average annual growth of 3.2% over the past decade.
- The technology industry is a key driver of economic diversification in South Dakota.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the computer systems design and related services industry in the state of South Dakota.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the performance and growth of South Dakota's critical technology sector, informing economic development strategies and policy decisions.
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: This trend informs decisions related to economic development, technology investments, and workforce policies in South Dakota.
Q: Are there update delays or limitations?
A: The data is published quarterly with a short lag, providing timely insights into industry performance.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Computer Systems Design and Related Services (5415) in South Dakota (SDCPUSYSDSGNRGSP), retrieved from FRED.