Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Illinois
ILOTHSERVENQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26,545.70
Year-over-Year Change
20.34%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the gross domestic product (GDP) of the other services (except government and government enterprises) sector in Illinois. It provides insights into the economic performance and growth of this industry within the state.
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 other services (except government and government enterprises) sector includes a diverse range of businesses, such as personal care services, repair and maintenance, and religious organizations. This metric offers valuable information about the contribution of this sector to Illinois' overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is used by economists, policymakers, and businesses to assess the health and dynamics of Illinois' service-based economy.
Key Facts
- Illinois' other services GDP reached $78.9 billion in 2021.
- This sector accounts for approximately 7.8% of Illinois' total GDP.
- The other services sector has experienced steady growth in Illinois over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the other services (except government and government enterprises) sector in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the economic performance and growth of the service-based industries in Illinois, which is an important component of the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and businesses to assess the health and dynamics of Illinois' service-based economy, which can inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly by the U.S. Bureau of Economic Analysis, with occasional revisions to historical figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Illinois (ILOTHSERVENQGSP), retrieved from FRED.