Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Maine
This dataset tracks gross domestic product: data processing, hosting, and other information services (518-519) in maine over time.
Latest Value
346.30
Year-over-Year Change
94.99%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) generated by the data processing, hosting, and other information services industry in the state of Maine. It provides insights into the economic activity and performance of this key 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 Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Maine series tracks the total value of goods and services produced by this industry within the state. It is an important indicator of the health and growth of Maine's technology and information services sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks.
Historical Context
This trend is used by economists, policymakers, and industry analysts to monitor the competitiveness and contribution of Maine's information services sector to the overall state economy.
Key Facts
- Maine's information services sector accounts for over 3% of state GDP.
- This industry has seen 5% annual growth in Maine over the past decade.
- Data processing and hosting make up the largest share of this economic activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total gross domestic product (GDP) generated by the data processing, hosting, and other information services industry within the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and contribution of Maine's technology and information services sector to the overall state economy, which is important for economic analysis and policymaking.
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 frameworks.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and industry analysts to monitor the competitiveness and growth of Maine's information services sector, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 3-month delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Maine (MEDATAWWWNGSP), retrieved from FRED.