Gross Domestic Product: Computer Systems Design and Related Services (5415) in Minnesota
MNCPUSYSDSGNNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,432.40
Year-over-Year Change
71.79%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the computer systems design and related services industry in Minnesota. It provides insight into the performance and growth of this key sector within the state's 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 Domestic Product: Computer Systems Design and Related Services (5415) in Minnesota trend represents the total economic output of businesses engaged in computer systems design, software development, and related technology services in the state. This data is used by economists and policymakers to analyze industry-level economic activity and productivity.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of businesses in the computer systems design and related services industry.
Historical Context
This economic indicator is relevant for understanding Minnesota's technology sector and its contribution to the state's overall economic performance.
Key Facts
- Minnesota's computer systems design industry accounts for over 4% of the state's GDP.
- This sector has experienced consistent growth over the past decade.
- The COVID-19 pandemic led to a temporary decline in 2020 before a rapid rebound in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the computer systems design and related services industry in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the performance and growth of a key technology sector within Minnesota's economy, which is important for understanding the state's overall economic development and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys of businesses in the computer systems design and related services industry.
Q: How is this trend used in economic policy?
A: This economic indicator is relevant for policymakers and analysts seeking to understand the role of Minnesota's technology sector and its contribution to the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 3-4 months between the end of the reference period and the data release.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Computer Systems Design and Related Services (5415) in Minnesota (MNCPUSYSDSGNNGSP), retrieved from FRED.