Real Gross Domestic Product: Information (51) in Minnesota
MNINFORGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17,316.60
Year-over-Year Change
74.57%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product: Information (51) in Minnesota measures the inflation-adjusted economic output of the information industry in the state. This metric is crucial for understanding Minnesota's economic performance and competitiveness.
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
This series tracks the real value added by the information industry, which includes sectors like publishing, telecommunications, data processing, and digital media. It provides insight into the growth and productivity of a key high-tech segment of Minnesota's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
Policymakers and businesses use this metric to gauge the strength and trajectory of Minnesota's information economy.
Key Facts
- Minnesota's information sector accounts for over 5% of the state's total economic output.
- The information industry in Minnesota has grown at an average annual rate of 3.2% over the past decade.
- Nationally, the information sector makes up about 5.5% of total U.S. GDP.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product: Information (51) in Minnesota measures the inflation-adjusted economic output of Minnesota's information industry, including sectors like publishing, telecommunications, and digital media.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insight into the growth and productivity of a key high-tech segment of Minnesota's economy, helping policymakers and businesses gauge the strength and trajectory of the state's information sector.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates for the state of Minnesota.
Q: How is this trend used in economic policy?
A: Policymakers and businesses use this metric to assess the performance and competitiveness of Minnesota's information economy, informing decisions around economic development, workforce planning, and investments in technology and innovation.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a lag of approximately 3 months. There may be revisions to historical data as more complete information becomes available.
Related Trends
Coefficient for Industrial Carbon Dioxide Emissions, Distillate Fuel for Minnesota
EMISSCO2CDFICBMNA
State Tax Collections: T28 Occupation and Business License, Not Elsewhere Classified for Minnesota
QTAXT28QTAXCAT3MNNO
Business Applications for Minnesota
BUSAPPWNSAMN
Average Weekly Earnings of Production Employees: Manufacturing in Minnesota
SMU27000003000000030
Coincident Economic Activity Index for Minnesota
MNPHCI
Real Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Minnesota
MNPETCOALMANRGSP
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Information (51) in Minnesota (MNINFORGSP), retrieved from FRED.