Real Gross Domestic Product: Educational Services (61) in Utah
UTEDCATRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,247.30
Year-over-Year Change
6.94%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product (GDP) for the Educational Services (NAICS 61) industry in Utah measures the inflation-adjusted economic output of this sector. It is a key indicator of the health and productivity of Utah's education-related 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
This GDP series provides insight into the size and growth of Utah's education industry, including schools, colleges, and other educational institutions. It is used by economists, policymakers, and industry analysts to assess the state's economic performance and educational infrastructure.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using income, output, and price indices.
Historical Context
The Real GDP for Educational Services in Utah is relevant for understanding the state's investment in education and its broader economic development.
Key Facts
- Utah's educational services GDP grew by 3.2% in 2021.
- The educational services industry accounts for 6.2% of Utah's total GDP.
- Utah ranks 5th among U.S. states for growth in educational services GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted gross domestic product (GDP) of the educational services industry in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: The Real GDP for Educational Services in Utah provides insight into the size, growth, and economic impact of the state's education sector, which is crucial for understanding Utah's overall economic performance and development.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using income, output, and price indices.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and industry analysts to assess Utah's investment in education and its influence on the state's broader economic development.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Federal Reserve with typical update delays of 1-2 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Educational Services (61) in Utah (UTEDCATRQGSP), retrieved from FRED.