Gross Domestic Product: Utilities (22) in Minnesota
MNUTILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,655.70
Year-over-Year Change
39.02%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Utilities (22) in Minnesota trend measures the economic output of the utilities sector in the state of Minnesota. This data is crucial for understanding the role of the utilities industry in 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: Utilities (22) in Minnesota trend represents the total value added by the utilities sector, including electricity, natural gas, and water supply, to the state's overall economic production. It is an important indicator of the health and performance of this key industry within Minnesota's economy.
Methodology
This data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its comprehensive measures of state-level economic activity.
Historical Context
Policymakers and industry analysts use this trend to gauge the contribution of the utilities sector to Minnesota's economic growth and development.
Key Facts
- Minnesota's utilities sector accounts for about 2% of the state's total GDP.
- Utilities output in Minnesota has grown by an average of 3% annually over the past decade.
- The utilities industry employs over 12,000 workers in Minnesota.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Utilities (22) in Minnesota trend measures the total economic output or value added by the utilities sector, including electricity, natural gas, and water supply, in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the importance of the utilities industry to Minnesota's overall economy and for analyzing the performance and contribution of this key sector.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its comprehensive measures of state-level economic activity.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this trend to gauge the contribution of the utilities sector to Minnesota's economic growth and development, informing decisions on infrastructure investment, regulation, and other policy initiatives.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately two months, so there may be a delay in accessing the most recent information.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Utilities (22) in Minnesota (MNUTILNGSP), retrieved from FRED.