Real Gross Domestic Product: Educational Services (61) in Tennessee
TNEDCATRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,517.10
Year-over-Year Change
19.19%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product: Educational Services (61) in Tennessee measures the inflation-adjusted economic output of the educational services sector in the state. This metric is important for policymakers and economists to understand the health and trends of a key industry in 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
This series tracks the real GDP, or inflation-adjusted economic output, of the educational services sector in Tennessee. It provides insight into the size and growth of this industry, which is a significant contributor to the state's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounts methodologies.
Historical Context
Policymakers and market analysts use this metric to assess the performance and outlook of Tennessee's educational services industry.
Key Facts
- Tennessee's educational services sector accounts for over 3% of the state's total GDP.
- Real GDP in this sector has grown by an average of 2.5% annually over the past decade.
- The educational services industry employs over 200,000 workers in Tennessee.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted economic output or real GDP of the educational services sector in the state of Tennessee.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and growth of a key industry in Tennessee's economy, which is crucial information for policymakers, businesses, and economic analysts.
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 national accounts methodologies.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this metric to assess the outlook and support policy decisions related to Tennessee's educational services industry.
Q: Are there update delays or limitations?
A: There may be a 1-2 quarter delay in the availability of this data due to the time required for collection and processing by the statistical agencies.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Educational Services (61) in Tennessee (TNEDCATRGSP), retrieved from FRED.