Gross Domestic Product: Information (51) in Montana
MTINFONQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,878.30
Year-over-Year Change
17.43%
Date Range
1/1/2005 - 1/1/2025
Summary
This data series measures the gross domestic product (GDP) of the information industry in Montana. It provides insights into the economic performance and importance of the information sector within 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 information industry GDP represents the total value of goods and services produced by businesses in Montana's information sector, which includes industries like publishing, telecommunications, data processing, and software development. This metric is used by economists and policymakers to assess the state's economic composition and growth trends.
Methodology
The Bureau of Economic Analysis calculates this GDP figure using data from industry surveys and government administrative records.
Historical Context
This information industry GDP data helps inform decisions about economic development, infrastructure investments, and policy priorities in Montana.
Key Facts
- Montana's information industry GDP was $4.6 billion in 2021.
- The information sector accounts for 6.2% of Montana's total GDP.
- This GDP metric has grown by 3.2% annually on average over the past decade.
FAQs
Q: What does this economic trend measure?
A: This data series measures the gross domestic product (GDP) of Montana's information industry, which includes sectors like publishing, telecommunications, and software development.
Q: Why is this trend relevant for users or analysts?
A: This information industry GDP metric provides insights into the economic performance and importance of a key sector within the Montana economy, helping to inform decisions about development, investment, and policy.
Q: How is this data collected or calculated?
A: The Bureau of Economic Analysis calculates this GDP figure using data from industry surveys and government administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this information industry GDP data to assess the state's economic composition and growth trends, which can inform decisions about economic development, infrastructure investments, and policy priorities.
Q: Are there update delays or limitations?
A: This GDP data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Information (51) in Montana (MTINFONQGSP), retrieved from FRED.