Real Gross Domestic Product: Information (51) in Alabama
ALINFORGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,752.40
Year-over-Year Change
80.04%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures real gross domestic product (GDP) in the information industry sector for the state of Alabama. It provides insights into the performance and growth of Alabama's information 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 Gross Domestic Product: Information (51) in Alabama series tracks the inflation-adjusted output of the information industry, which includes sectors like publishing, telecommunications, and data processing. This metric is used by economists and policymakers to assess the health and competitiveness of Alabama's information-based industries.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their state-level GDP estimates.
Historical Context
Trends in this data help inform economic and workforce development policies in Alabama.
Key Facts
- Alabama's information industry accounts for about 4% of the state's total GDP.
- Real information GDP in Alabama grew by 2.5% in 2021.
- The information sector includes industries like software publishing and data processing.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the information industry sector in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the performance and competitiveness of Alabama's information-based industries, which is important for economic and workforce development policy.
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 state-level GDP estimates.
Q: How is this trend used in economic policy?
A: Trends in this data help inform economic and workforce development policies in Alabama, as the information sector is an important part of the state's economy.
Q: Are there update delays or limitations?
A: There may be lags of several months in the availability of the most recent data, as state-level GDP estimates are released on a quarterly basis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Information (51) in Alabama (ALINFORGSP), retrieved from FRED.