Real Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Alabama
ALDATAWWWRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,391.90
Year-over-Year Change
262.66%
Date Range
1/1/1997 - 1/1/2023
Summary
This metric measures the real gross domestic product (GDP) of the data processing, hosting, and other information services industry in Alabama. It provides insight into the economic performance and growth of this key 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 real GDP for the data processing, hosting, and other information services industry in Alabama is a measure of the total inflation-adjusted value of goods and services produced by this sector. It is an important indicator of the industry's economic contribution and can inform policymakers and businesses about trends in this technology-driven segment.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric is used by economists, policymakers, and industry analysts to assess the economic health and growth prospects of Alabama's information services sector.
Key Facts
- Alabama's data processing, hosting, and information services industry accounts for over 3% of the state's total GDP.
- The sector has experienced consistent growth, with real GDP increasing by 20% over the past decade.
- Information services is one of the fastest-growing industries in Alabama, outpacing the state's overall economic expansion.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real gross domestic product (GDP) of the data processing, hosting, and other information services industry in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the economic performance and growth of Alabama's technology-driven information services sector, which is an important contributor to the state's overall economy.
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 metric is used by economists, policymakers, and industry analysts to assess the economic health and growth prospects of Alabama's information services sector, which can inform policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay from the end of the reporting period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Alabama (ALDATAWWWRGSP), retrieved from FRED.