Real Gross Domestic Product: Computer Systems Design and Related Services (5415) in Utah
UTCPUSYSDSGNRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,934.80
Year-over-Year Change
411.36%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the computer systems design and related services industry in Utah. It provides insights into the economic performance and productivity of this key technology sector in the state.
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: Computer Systems Design and Related Services (5415) in Utah series tracks the inflation-adjusted output of businesses in this industry, which includes software development, computer systems design, and related consulting services. This data helps analyze the contribution of the technology sector to Utah's overall economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts methodology.
Historical Context
Policymakers and industry analysts use this trend to assess the competitiveness and development of Utah's technology-driven economy.
Key Facts
- Utah's computer systems design industry accounts for over 5% of the state's total economic output.
- This sector has experienced average annual growth of 7% over the past decade.
- The state ranks among the top 10 in the U.S. for concentration of technology jobs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the computer systems design and related services industry in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the performance and contribution of Utah's technology sector, which is a key driver of the state's economic growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts methodology.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this trend to assess the competitiveness and development of Utah's technology-driven economy, informing decisions on workforce, infrastructure, and business development initiatives.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately three months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Computer Systems Design and Related Services (5415) in Utah (UTCPUSYSDSGNRGSP), retrieved from FRED.