Chain-Type Quantity Index for Real GDP: Professional, Scientific, and Technical Services (54) in Hawaii
Annual, Not Seasonally Adjusted
HIPROSCITCHQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
131.45
Year-over-Year Change
43.47%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' economic trend measures the quarterly growth rate of the Gross State Product (GSP) for the state of Hawaii. This metric is closely monitored by economists and policymakers to gauge the overall health and performance of the Hawaiian 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 Gross State Product (GSP) is the state-level equivalent of the national Gross Domestic Product (GDP), representing the total value of goods and services produced within a state's economy. The 'Annual, Not Seasonally Adjusted' GSP growth rate for Hawaii provides a high-level snapshot of the state's economic trajectory over time.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is used by economists, investors, and policymakers to analyze Hawaii's economic performance and inform decision-making.
Key Facts
- Hawaii's GSP grew by 2.8% in 2021.
- The service sector accounts for over 80% of Hawaii's GSP.
- Tourism is a key driver of Hawaii's economy.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' trend measures the quarterly growth rate of the Gross State Product (GSP) for the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely monitored by economists and policymakers to gauge the overall health and performance of the Hawaiian economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is used by economists, investors, and policymakers to analyze Hawaii's economic performance and inform decision-making.
Q: Are there update delays or limitations?
A: The data is published quarterly, with some time lag in availability.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (HIPROSCITCHQGSP), retrieved from FRED.