Real Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Hawaii
HIDATAWWWRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
493.00
Year-over-Year Change
306.43%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the data processing, hosting, and other information services industry (NAICS 518-519) in the state of Hawaii. It provides insights into the performance and growth of this key technology sector within the local 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 (GDP) data for the data processing, hosting, and other information services industry in Hawaii offers a quantitative measure of the output and economic activity generated by this sector. It is an important indicator for policymakers and analysts to monitor the development and competitiveness of Hawaii's technology-driven industries.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national accounting principles.
Historical Context
This economic trend is relevant for understanding the role of technology and information services in Hawaii's economy and can inform policy decisions and private sector investment.
Key Facts
- Hawaii's data processing and information services industry accounts for a significant portion of the state's GDP.
- This sector has experienced steady growth in recent years, reflecting the increasing importance of technology in the local economy.
- The performance of this industry is closely watched by policymakers and business leaders in Hawaii.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the data processing, hosting, and other information services industry (NAICS 518-519) in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and growth of a key technology sector within Hawaii's economy, which is important for policymakers and analysts to monitor.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend can inform policy decisions and private sector investment by providing insights into the role and competitiveness of Hawaii's technology-driven industries.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly by the BEA, but there may be occasional delays or limitations in the availability of the most recent information.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Hawaii (HIDATAWWWRGSP), retrieved from FRED.