Gross Domestic Product: Computer Systems Design and Related Services (5415) in Rhode Island
RICPUSYSDSGNNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,350.20
Year-over-Year Change
111.17%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the gross domestic product (GDP) for the computer systems design and related services industry in Rhode Island. It provides insights into the economic performance and contribution of this technology-focused sector 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 Gross Domestic Product: Computer Systems Design and Related Services (5415) in Rhode Island series tracks the economic output of businesses engaged in computer systems design, custom computer programming services, and other related services in the state. This metric is used by economists and policymakers to assess the growth and competitiveness of Rhode Island's technology industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
This trend is relevant for understanding the role of technology-driven industries in Rhode Island's economic development and informing policy decisions.
Key Facts
- Rhode Island's computer systems design industry accounts for over 3% of the state's total GDP.
- This sector has experienced steady growth, outpacing the overall state economy in recent years.
- The technology industry is a key driver of job creation and innovation in Rhode Island.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) for the computer systems design and related services industry in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic performance and competitiveness of Rhode Island's technology sector, which is an important driver of growth and innovation in the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the role of technology-driven industries in Rhode Island's economic development and to inform policy decisions that support the growth of the state's technology sector.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with potential delays of a few months in the most recent figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Computer Systems Design and Related Services (5415) in Rhode Island (RICPUSYSDSGNNGSP), retrieved from FRED.