Gross Domestic Product: Computer Systems Design and Related Services (5415) in Utah
UTCPUSYSDSGNNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,503.40
Year-over-Year Change
263.28%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the computer systems design and related services industry in Utah. It provides insights into the performance and growth of this technology-focused sector 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 Gross Domestic Product: Computer Systems Design and Related Services (5415) in Utah metric tracks the total value of goods and services produced by businesses in this specific industry within the state. It is an important indicator of economic activity and technological innovation in Utah.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including business surveys and administrative records.
Historical Context
This GDP data can inform policymakers, investors, and economic analysts about the health and trajectory of Utah's technology industry.
Key Facts
- Utah's computer systems design industry contributed $4.9 billion to state GDP in 2021.
- This sector has grown by over 60% in the past decade, outpacing overall state GDP growth.
- Utah ranks 6th nationally for concentration of computer systems design jobs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the computer systems design and related services industry within the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the performance and growth of Utah's technology sector, 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 using business surveys and administrative records.
Q: How is this trend used in economic policy?
A: This GDP data can inform policymakers, investors, and economic analysts about the health and trajectory of Utah's technology industry, which can influence policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Computer Systems Design and Related Services (5415) in Utah (UTCPUSYSDSGNNGSP), retrieved from FRED.