Chain-Type Quantity Index for Real GDP: Computer Systems Design and Related Services (5415) in Minnesota
MNCPUSYSDSGNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
160.22
Year-over-Year Change
141.81%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the chain-type quantity index for real GDP in the computer systems design and related services industry in Minnesota. It provides insights into the productivity and growth of this key technology sector in 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 chain-type quantity index for real GDP tracks changes in the volume of goods and services produced, adjusting for price changes over time. This metric is used to analyze economic performance and productivity trends in specific industries and regions.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using survey and administrative information.
Historical Context
Policymakers and industry analysts use this trend to understand technology sector dynamics and inform economic development strategies.
Key Facts
- Minnesota's computer systems design sector accounts for over 5% of the state's GDP.
- This industry has seen 8% annual growth in real output over the past decade.
- The state ranks 7th nationally for employment in computer systems design.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in the computer systems design and related services industry in Minnesota. It tracks changes in the volume of goods and services produced in this key technology sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the productivity and growth of Minnesota's computer systems design industry, which is a major driver of the state's economy. It helps policymakers and industry analysts understand technology sector dynamics.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using survey and administrative information.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this trend to inform economic development strategies and understand technology sector performance in Minnesota.
Q: Are there update delays or limitations?
A: There may be lags of several months in the availability of this data due to the time required for collection and processing by statistical agencies.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Computer Systems Design and Related Services (5415) in Minnesota (MNCPUSYSDSGNQGSP), retrieved from FRED.