Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in North Carolina
NCOTHSERVENQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18,597.70
Year-over-Year Change
22.68%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the gross domestic product (GDP) of the other services (except government and government enterprises) sector in North Carolina. It provides insight into the performance and contribution of this key 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 encompasses a diverse range of economic activities, including personal services, repair and maintenance, and religious and grantmaking organizations. Analyzing the GDP of this sector helps economists and policymakers understand the broader trends and dynamics within North Carolina's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its comprehensive GDP reporting for states and regions.
Historical Context
This economic trend is used by policymakers, analysts, and businesses to assess the health and growth of North Carolina's service-based industries.
Key Facts
- North Carolina's other services sector accounts for approximately 4% of the state's total GDP.
- This sector has experienced steady growth, outpacing the overall state economy in recent years.
- The COVID-19 pandemic had a significant impact on the other services sector in North Carolina, leading to a sharp decline in 2020.
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 North Carolina.
Q: Why is this trend relevant for users or analysts?
A: Analyzing the GDP of the other services sector provides important insights into the performance and contribution of this diverse industry within North Carolina's broader economy, which is crucial for policymakers, businesses, and economic analysts.
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 regions.
Q: How is this trend used in economic policy?
A: This economic trend is used by policymakers, analysts, and businesses to assess the health and growth of North Carolina's service-based industries, which can inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and potential limitations as the Bureau of Economic Analysis's overall GDP reporting for states and regions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in North Carolina (NCOTHSERVENQGSP), retrieved from FRED.