Gross Domestic Product: Computer Systems Design and Related Services (5415) in Alabama
ALCPUSYSDSGNNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,853.70
Year-over-Year Change
56.99%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the computer systems design and related services industry in Alabama. It provides insights into the performance and growth of this key technology sector within 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 GDP of the computer systems design and related services industry in Alabama represents the total value of goods and services produced by this sector. It is an important indicator of economic activity and technological innovation in the state.
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 policymakers, business leaders, and economic analysts to understand the dynamics of Alabama's technology industry and its contribution to the state's overall economic performance.
Key Facts
- Alabama's computer systems design industry accounts for over 3% of the state's total GDP.
- This sector has experienced steady growth of around 4% annually over the past decade.
- The technology industry is a key driver of economic development and job creation in Alabama.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the computer systems design and related services industry in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and growth of Alabama's technology sector, which is a key driver of economic activity and innovation in the state.
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: Policymakers, business leaders, and economic analysts closely monitor this trend to understand the dynamics of Alabama's technology industry and its contribution to the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is updated regularly by the Bureau of Economic Analysis, but there may be some delays in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Computer Systems Design and Related Services (5415) in Alabama (ALCPUSYSDSGNNGSP), retrieved from FRED.