Gross Domestic Product: Educational Services (61) in Wisconsin
WIEDCATNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,510.20
Year-over-Year Change
39.59%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Educational Services (61) in Wisconsin measures the economic output of the educational services industry in the state. This data is important for analyzing regional economic trends and informing policy decisions.
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 total value of goods and services produced by the educational services industry in Wisconsin. It provides insight into the size and performance of this key sector of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting methods.
Historical Context
Policymakers and economists use this data to understand Wisconsin's economic composition and monitor the educational services industry's contribution to overall state GDP.
Key Facts
- Educational services account for approximately 3% of Wisconsin's total GDP.
- The industry experienced steady growth from 2010 to 2019 before dipping during the COVID-19 pandemic.
- Wisconsin's educational services GDP is slightly higher than the national average as a percentage of total state output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total economic output of the educational services industry in the state of Wisconsin, including public and private schools, colleges, and other educational institutions.
Q: Why is this trend relevant for users or analysts?
A: This data is important for understanding the size and performance of Wisconsin's educational services sector and its contribution to the state's overall economic activity.
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 accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to analyze the composition of Wisconsin's economy, monitor the educational services industry's economic performance, and inform decisions related to education funding and policy.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to periodic revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Educational Services (61) in Wisconsin (WIEDCATNGSP), retrieved from FRED.