Real Gross Domestic Product: Management of Companies and Enterprises (55) in Utah
UTMNGCOENTPRRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,437.30
Year-over-Year Change
73.82%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) contribution of the management of companies and enterprises sector in the state of Utah. It provides insights into the productivity and growth of this 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: Management of Companies and Enterprises (55) in Utah series tracks the inflation-adjusted economic output of the management of companies and enterprises industry in Utah. This metric is used by economists and policymakers to analyze the relative performance and competitiveness of this sector compared to other industries in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Trends in this metric are closely monitored by state and local governments, as well as businesses, to inform economic development strategies and investment decisions.
Key Facts
- Utah's management of companies and enterprises sector accounts for approximately 4% of the state's total GDP.
- This industry has experienced steady growth, with real GDP increasing by over 20% in the past decade.
- The management of companies and enterprises is one of the fastest-growing sectors in Utah's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) contribution of the management of companies and enterprises sector in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the productivity and growth of a key industry within Utah's economy, which is useful for economic analysis and policymaking.
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: Trends in this metric are closely monitored by state and local governments, as well as businesses, to inform economic development strategies and investment decisions.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for slight delays in availability.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Management of Companies and Enterprises (55) in Utah (UTMNGCOENTPRRGSP), retrieved from FRED.