Gross Domestic Product: Broadcasting (Except Internet) and Telecommunications (515, 517) in Illinois
ILBRDTELENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17,406.50
Year-over-Year Change
36.80%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Broadcasting (Except Internet) and Telecommunications (515, 517) in Illinois metric measures the economic output of this industry sector in the state. It is a key indicator for understanding the performance and contribution of Illinois' media and communications industries.
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 data series tracks the total inflation-adjusted GDP generated by businesses in the broadcasting and telecommunications industry within the state of Illinois. It provides valuable insights into the economic health and growth trends of this important sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
Policymakers and industry analysts closely monitor this metric to inform decisions around regulation, infrastructure investment, and economic development strategies.
Key Facts
- Illinois' broadcasting and telecommunications sector accounts for over 3% of the state's total GDP.
- This industry has seen steady growth of around 2% annually over the past decade.
- The Chicago metropolitan area is a major hub for media and communications businesses in the state.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total economic output or GDP generated by businesses in the broadcasting and telecommunications industry within the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for understanding the performance and contribution of Illinois' media and communications sectors, which are important drivers of the state's economy.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects and calculates this data based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to inform decisions around regulation, infrastructure investment, and economic development strategies for the broadcasting and telecommunications sectors.
Q: Are there update delays or limitations?
A: This data is typically published on a quarterly basis with a lag of several months, so it may not reflect the most recent economic conditions.
Related Trends
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Real Per Capita Personal Income for Illinois
ILRPIPC
Monthly State Retail Sales: Miscellaneous Store Retailers in Illinois
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Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Illinois
ILACCOMDQQGSP
Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Illinois
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State Government Tax Collections, Total Income Taxes in Illinois
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Citation
U.S. Federal Reserve, Gross Domestic Product: Broadcasting (Except Internet) and Telecommunications (515, 517) in Illinois (ILBRDTELENGSP), retrieved from FRED.