Gross Domestic Product: Broadcasting (Except Internet) and Telecommunications (515, 517) in Rhode Island
RIBRDTELENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
834.20
Year-over-Year Change
4.90%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the broadcasting (except internet) and telecommunications industries in Rhode Island. It provides insights into the performance and contribution of these key sectors to 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 RIBRDTELENGSP series tracks the GDP generated by businesses in the broadcasting (except internet) and telecommunications industries, which include activities such as radio and television broadcasting, cable and satellite TV distribution, and wired and wireless telecommunications. This data helps policymakers and analysts understand the economic importance of these industries in Rhode Island.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Historical Context
Trends in this industry's GDP can inform policy decisions and investment strategies related to the telecommunications and media sectors in Rhode Island.
Key Facts
- Rhode Island's broadcasting and telecommunications GDP was $1.4 billion in 2021.
- This industry accounts for approximately 2% of the state's total GDP.
- GDP in this sector has grown by 3.2% annually on average over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by businesses in the broadcasting (except internet) and telecommunications industries in Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the economic performance and contribution of these key industries, which can inform policy decisions and investment strategies in Rhode Island.
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 regional GDP estimates.
Q: How is this trend used in economic policy?
A: Trends in this industry's GDP can inform policy decisions and investment strategies related to the telecommunications and media sectors in Rhode Island.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically several months after the end of the reference period.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Broadcasting (Except Internet) and Telecommunications (515, 517) in Rhode Island (RIBRDTELENGSP), retrieved from FRED.