Chain-Type Quantity Index for Real GDP: Data Processing, Hosting, and Other Information Services (518-519) in Hawaii
HIDATAWWWQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
419.13
Year-over-Year Change
306.30%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Data Processing, Hosting, and Other Information Services (518-519) in Hawaii measures the inflation-adjusted output of the information services sector in the state. This metric is important for economists and policymakers to understand productivity and growth trends in this key industry.
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
This index tracks the real, price-adjusted value of economic output from information services businesses in Hawaii, including data processing, web hosting, and other related activities. It provides insights into the performance and competitiveness of this critical industry within the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level price deflators.
Historical Context
This metric informs economic policy and investment decisions related to Hawaii's technology and information services sectors.
Key Facts
- Hawaii's information services sector accounts for over 4% of the state's GDP.
- This index has grown by an average of 3.2% annually over the past decade.
- The COVID-19 pandemic had a significant impact, with a 6.4% decline in 2020.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted output of Hawaii's data processing, web hosting, and other information services industries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and competitiveness of a critical sector within Hawaii's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level price deflators.
Q: How is this trend used in economic policy?
A: This index informs economic policy and investment decisions related to Hawaii's technology and information services sectors.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Data Processing, Hosting, and Other Information Services (518-519) in Hawaii (HIDATAWWWQGSP), retrieved from FRED.