Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Rhode Island
RIOTHSERVENQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,821.80
Year-over-Year Change
21.69%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic indicator measures the gross domestic product (GDP) of the other services (except government and government enterprises) sector in Rhode Island. It provides insights into the performance and growth of a key component of 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 industries, including personal services, repair and maintenance, and religious, grantmaking, civic, professional, and similar organizations. This metric offers a valuable snapshot of economic activity in this important non-government service segment of Rhode Island's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of its comprehensive GDP reporting.
Historical Context
Economists and policymakers monitor this trend to understand the overall health and dynamics of Rhode Island's services-based economy.
Key Facts
- Rhode Island's other services sector accounts for approximately 8% of the state's total GDP.
- This sector has seen steady growth over the past decade, outpacing the overall state economy.
- The COVID-19 pandemic had a significant impact on this services-oriented industry in Rhode Island.
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 Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and growth of a key non-government services component of Rhode Island's economy, which is an important driver 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 (BEA) as part of its comprehensive GDP reporting.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this trend to understand the overall health and dynamics of Rhode Island's services-based economy, which informs economic and policy decisions.
Q: Are there update delays or limitations?
A: There may be some delays in the release of this data, as it is part of the BEA's broader GDP reporting process. Users should check the most recent publication date to ensure they have the latest information.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Rhode Island (RIOTHSERVENQGSP), retrieved from FRED.