Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Wisconsin
WIDATAWWWNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,328.00
Year-over-Year Change
116.84%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) contribution of the data processing, hosting, and other information services industry (NAICS 518-519) in the state of Wisconsin. It provides insights into the economic significance of this sector within the state's overall 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
The WIDATAWWWNGSP series represents the GDP generated by businesses classified under NAICS codes 518 and 519, which includes activities such as data processing, hosting, and other information services. This metric is useful for analyzing the relative importance and performance of this industry within Wisconsin's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their GDP by industry statistics.
Historical Context
Policymakers and industry analysts use this data to understand the economic contribution and trends in the data processing and information services sector in Wisconsin.
Key Facts
- Wisconsin's data processing and information services industry contributed $7.4 billion to the state's GDP in 2021.
- This sector accounted for 2.2% of Wisconsin's total GDP in 2021.
- The GDP contribution of this industry in Wisconsin has grown by 31% over the past 10 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contribution of the data processing, hosting, and other information services industry (NAICS 518-519) in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic significance and performance of the data processing and information services sector within Wisconsin's overall economy, which is useful for policymakers and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their GDP by industry statistics.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this data to understand the economic contribution and trends in the data processing and information services sector in Wisconsin, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is published by the U.S. Bureau of Economic Analysis with a lag, typically several months after the end of the reference period. There may also be revisions to previously published data.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Wisconsin (WIDATAWWWNGSP), retrieved from FRED.