Real Gross Domestic Product: Information (51) in South Dakota
SDINFORGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,603.40
Year-over-Year Change
78.79%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the information sector in South Dakota. It provides valuable insights into the performance and growth of this critical industry 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: Information (51) in South Dakota series tracks the inflation-adjusted value added by the information sector to the state's overall economic output. It serves as an important indicator for economists and policymakers to analyze the contribution and development of the information industry in South Dakota.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This economic trend is relevant for understanding the broader economic conditions and policy decisions affecting South Dakota's information sector and its role in the state's overall economic landscape.
Key Facts
- The information sector accounts for approximately 3.5% of South Dakota's total GDP.
- Real GDP in the information sector grew by 2.7% in South Dakota in the most recent year.
- South Dakota's information sector has outpaced the national average in terms of real GDP growth over the past five years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the information sector in the state of South Dakota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and growth of the information industry within South Dakota's economy, which is crucial for understanding the state's overall economic conditions and development.
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 income and product accounting methods.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and analysts to assess the contribution and growth of the information sector in South Dakota, which informs economic development strategies and policy decisions affecting the state's overall economic landscape.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Information (51) in South Dakota (SDINFORGSP), retrieved from FRED.