Gross Domestic Product: Computer Systems Design and Related Services (5415) in Arkansas
ARCPUSYSDSGNNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,347.20
Year-over-Year Change
43.33%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the value added by the computer systems design and related services industry in Arkansas. It is an important indicator of the state's technological and innovation capabilities.
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 Gross Domestic Product (GDP) for the computer systems design and related services industry in Arkansas represents the economic output of this key sector. It is used by policymakers and analysts to understand the state's technology and knowledge-based industries.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
This metric provides insight into Arkansas' competitiveness in high-tech services and can inform economic development strategies.
Key Facts
- Arkansas' computer systems design GDP was $1.4 billion in 2020.
- This industry accounts for 1.3% of the state's total economic output.
- GDP in this sector has grown by 50% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric measures the gross domestic product (GDP) of the computer systems design and related services industry in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the strength and growth of Arkansas' high-tech services sector, which is an important driver of economic development 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 industry-level GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and economic development officials can use this metric to inform strategies for supporting and growing Arkansas' technology and knowledge-based industries.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically several quarters behind the current period. There may also be revisions to historical data as more information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Computer Systems Design and Related Services (5415) in Arkansas (ARCPUSYSDSGNNGSP), retrieved from FRED.