Real Gross Domestic Product: Information (51) in Utah
UTINFORQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16,754.40
Year-over-Year Change
22.54%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) of the information sector in the state of Utah. It provides valuable insights into the performance and growth of a key industry 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 Real Gross Domestic Product: Information (51) in Utah series tracks the inflation-adjusted output of the information sector, which includes industries such as publishing, broadcasting, telecommunications, and data processing. This metric helps economists and policymakers assess the relative strength and contribution of the information industry to Utah's overall economic activity.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including surveys and administrative records.
Historical Context
This trend is used by analysts and policymakers to monitor the health and competitiveness of Utah's information sector, which is an important driver of economic growth and innovation.
Key Facts
- Utah's information sector accounts for approximately 8% of the state's GDP.
- The real GDP of Utah's information sector has grown by over 30% in the past decade.
- The information industry is the third-largest contributor to Utah's economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the information sector in the state of Utah, which includes industries such as publishing, broadcasting, telecommunications, and data processing.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and growth of a key industry within Utah's economy, which is important for economists and policymakers to monitor.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including surveys and administrative records.
Q: How is this trend used in economic policy?
A: This trend is used by analysts and policymakers to monitor the health and competitiveness of Utah's information sector, which is an important driver of economic growth and innovation.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Information (51) in Utah (UTINFORQGSP), retrieved from FRED.