Real Gross Domestic Product: Information (51) in South Carolina
SCINFORGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,493.70
Year-over-Year Change
142.15%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product: Information (51) in South Carolina measure tracks the value of goods and services produced by the information industry in South Carolina, adjusted for inflation. This metric is a key indicator of the state's economic performance and productivity in the information sector.
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 Real Gross Domestic Product: Information (51) in South Carolina is a regional economic indicator that quantifies the real output of the information industry, such as publishing, telecommunications, and data processing, within the state. It is a valuable statistic for analyzing South Carolina's economic trends and the relative strength of its information sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric helps policymakers and businesses understand the role of the information industry in South Carolina's economy and its contribution to overall state GDP.
Key Facts
- South Carolina's information sector accounts for over 5% of the state's total GDP.
- The information industry in South Carolina has seen steady growth over the past decade.
- Real GDP in the information sector outpaced overall state GDP growth in recent years.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product: Information (51) in South Carolina measures the real output of the information industry in the state, including sectors like publishing, telecommunications, and data processing.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and contribution of South Carolina's information sector to the state's overall economic activity, making it a relevant indicator 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 using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and government agencies use this metric to assess the role of the information industry in South Carolina's economy and inform policy decisions related to economic development, workforce planning, and infrastructure investments.
Q: Are there update delays or limitations?
A: The Real Gross Domestic Product: Information (51) in South Carolina data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical release delay of 2-3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Information (51) in South Carolina (SCINFORGSP), retrieved from FRED.