Gross Domestic Product: Private Services-Providing Industries in Arkansas
ARPRISERVPRONGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
126,334.80
Year-over-Year Change
83.82%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product (GDP) Private Services-Providing Industries in Arkansas measures the economic output of the private services sector in the state. This metric provides valuable insights into the health and performance of Arkansas'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 Private Services-Providing Industries in Arkansas tracks the total value added by the private services sector, which includes industries such as finance, healthcare, education, and professional services. This data is used by economists and policymakers to analyze the state's economic trends and guide decision-making.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including surveys and administrative records.
Historical Context
This economic trend is closely monitored by state and federal policymakers to assess the impact of their policies on the private services sector in Arkansas.
Key Facts
- The private services sector accounts for over 60% of Arkansas's GDP.
- The GDP Private Services-Providing Industries in Arkansas has grown by an average of 3% annually over the past decade.
- The healthcare and professional services industries are the largest components of the private services sector in Arkansas.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) Private Services-Providing Industries in Arkansas measures the total value added by the private services sector in the state, including industries such as finance, healthcare, and professional services.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the health and performance of Arkansas's economy, as the private services sector is a significant driver of economic activity in the state. Economists and policymakers use this data to analyze economic trends and guide decision-making.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including surveys and administrative records.
Q: How is this trend used in economic policy?
A: This economic trend is closely monitored by state and federal policymakers to assess the impact of their policies on the private services sector in Arkansas, which is a critical component of the state's economy.
Q: Are there update delays or limitations?
A: The GDP Private Services-Providing Industries in Arkansas data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 3 months from the end of the reference period.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Private Services-Providing Industries in Arkansas (ARPRISERVPRONGSP), retrieved from FRED.