Real Gross Domestic Product: Information (51) in Illinois
ILINFORQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
48,750.20
Year-over-Year Change
22.09%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product: Information (51) in Illinois measures the output of the information industry in Illinois, adjusted for inflation. This metric is important for understanding the economic health and productivity of the state's information sector.
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: Information (51) in Illinois represents the real (inflation-adjusted) value added by the information industry, which includes publishing, motion pictures, broadcasting, telecommunications, and data processing. This indicator provides insight into the growth and performance of Illinois' information economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using surveys and economic models.
Historical Context
Policymakers and analysts use this metric to evaluate the contribution of the information industry to Illinois' overall economic output and growth.
Key Facts
- Illinois' information sector accounts for approximately 7% of the state's total GDP.
- The information industry in Illinois has experienced steady growth over the past decade.
- Telecommunications and data processing are the largest components of the information sector in Illinois.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product: Information (51) in Illinois measures the real, inflation-adjusted output of the information industry in the state, including sectors like publishing, telecommunications, and data processing.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into the performance and contribution of the information industry to Illinois' overall economic growth and productivity, which is crucial for policymakers and industry analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using surveys and economic models.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate the importance of the information sector to Illinois' economy and to inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is typically released with a 1-2 month delay and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Information (51) in Illinois (ILINFORQGSP), retrieved from FRED.