Real Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Utah
UTOTHSERVERQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,629.30
Year-over-Year Change
-9.52%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic indicator measures the real gross domestic product (GDP) of the other services (except government and government enterprises) sector in the state of Utah. It provides insights into the performance and growth of this important component of 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 GDP for the other services (except government and government enterprises) sector in Utah represents the inflation-adjusted value added by this industry to the state's overall economic output. It is a key metric used by economists and policymakers to analyze the health and trends within this service-based 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 is closely monitored by state and local officials to assess the economic conditions and development in Utah's private service sector.
Key Facts
- Utah's other services sector accounts for over 10% of the state's total GDP.
- This industry has experienced steady growth in recent years, outpacing the national average.
- The other services sector includes a diverse range of activities such as personal care, repair, and religious services.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the other services (except government and government enterprises) sector in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and growth of an important component of Utah's private service-based economy, which is closely monitored by state and local officials.
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 is closely monitored by state and local officials to assess the economic conditions and development in Utah's private service sector, which informs their policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to regular updates by the U.S. Bureau of Economic Analysis, but may have a slight delay in reporting compared to more immediate economic indicators.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Utah (UTOTHSERVERQGSP), retrieved from FRED.