Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Montana
MTOTHSERVENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,788.60
Year-over-Year Change
101.92%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) of the 'Other Services (Except Government and Government Enterprises)' sector in Montana. It provides insights into the performance and contribution of this key service industry 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 'Other Services (Except Government and Government Enterprises)' sector includes a wide range of personal and repair services, religious organizations, and professional associations. Tracking this metric helps economists and policymakers understand the relative strength and growth of Montana's private services industry.
Methodology
This data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its comprehensive GDP reporting for states and local areas.
Historical Context
Monitoring this economic trend can inform decisions related to economic development, workforce planning, and industry regulation in Montana.
Key Facts
- Montana's 'Other Services' GDP was $3.2 billion in 2020.
- This sector accounts for approximately 3.6% of Montana's total GDP.
- The 'Other Services' industry in Montana grew by 2.1% in 2019.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the 'Other Services (Except Government and Government Enterprises)' sector in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: Tracking this metric provides insights into the performance and contribution of Montana's private services industry, which is an important component of the state's overall economic activity.
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 GDP reporting for states and local areas.
Q: How is this trend used in economic policy?
A: Monitoring this economic trend can inform decisions related to economic development, workforce planning, and industry regulation in Montana.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedules and potential revisions as the broader GDP reporting from the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Montana (MTOTHSERVENGSP), retrieved from FRED.