Real Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in South Dakota
SDDATAWWWRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
217.10
Year-over-Year Change
478.93%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the data processing, hosting, and other information services industry in South Dakota. It is a key indicator of the health 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: Data Processing, Hosting, and Other Information Services (518-519) in South Dakota metric tracks the inflation-adjusted output of this industry, providing insights into its productivity and competitive position. Economists and policymakers use this data to assess the state's information technology landscape and inform economic development strategies.
Methodology
The U.S. Bureau of Economic Analysis calculates this metric based on surveys and other data sources.
Historical Context
This trend is closely monitored by state government and industry groups to gauge South Dakota's competitiveness in the digital economy.
Key Facts
- South Dakota's data processing and hosting industry accounts for over 3% of the state's GDP.
- Real GDP in this sector has grown by an average of 5% annually over the past decade.
- The data processing industry employs more than 5,000 people in South Dakota.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the data processing, hosting, and other information services industry in the state of South Dakota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and competitiveness of South Dakota's critical technology sector, which is an important driver of economic growth and development in the state.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis calculates this metric based on surveys and other economic data sources.
Q: How is this trend used in economic policy?
A: State government and industry groups closely monitor this trend to assess South Dakota's position in the digital economy and inform economic development strategies.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in South Dakota (SDDATAWWWRGSP), retrieved from FRED.