Gross Domestic Product: Information (51) in North Carolina
NCINFONGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29,187.60
Year-over-Year Change
111.92%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Information (51) in North Carolina measures the economic output of the information industry in the state. This data provides insights into the health and growth of North Carolina's tech and media sectors.
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 total inflation-adjusted gross domestic product generated by businesses in the information industry, including publishing, telecommunications, data processing, and other information services. It is a key indicator of North Carolina's economic competitiveness and technology leadership.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using state-level GDP estimates.
Historical Context
Policymakers and businesses use this metric to gauge the strength of North Carolina's innovation economy and inform economic development strategies.
Key Facts
- North Carolina's information GDP was $58.7 billion in 2021.
- The information sector accounts for 10.5% of North Carolina's total economic output.
- This metric has grown by 25% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total gross domestic product (GDP) generated by businesses in North Carolina's information industry, including publishing, telecommunications, data processing, and other information services.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the health and growth of North Carolina's tech and media sectors, which are key drivers of the state's innovation economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using state-level GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and businesses use this metric to gauge the strength of North Carolina's information economy and inform economic development strategies.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Information (51) in North Carolina (NCINFONGSP), retrieved from FRED.