Real Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Utah
Annual, Not Seasonally Adjusted
UTOTHSERVERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,767.70
Year-over-Year Change
16.73%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' economic trend measures the total output of the service sector of the U.S. economy. This key indicator provides insights into the overall health and growth of the services industry.
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 'Annual, Not Seasonally Adjusted' series tracks the total gross output produced by service-providing establishments in the United States. This metric is widely used by economists and policymakers to analyze productivity, consumer demand, and broader economic conditions.
Methodology
The data is collected through surveys of U.S. service-sector businesses by the Bureau of Economic Analysis.
Historical Context
Trends in service sector output are closely monitored for their implications on employment, inflation, and monetary policy decisions.
Key Facts
- Service sector accounts for over 75% of U.S. GDP.
- Service industry employment exceeds 80% of total U.S. jobs.
- Growth in service output signals expanding consumer demand.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' series tracks the total gross output produced by service-providing establishments in the United States.
Q: Why is this trend relevant for users or analysts?
A: Trends in service sector output provide important insights into the overall health and growth of the U.S. economy, with implications for employment, consumer demand, and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of U.S. service-sector businesses by the Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Service sector output trends are closely monitored by economists and policymakers for their implications on employment, inflation, and monetary policy decisions.
Q: Are there update delays or limitations?
A: The 'Annual, Not Seasonally Adjusted' data is subject to periodic revisions and may have a delay in availability compared to other economic indicators.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (UTOTHSERVERGSP), retrieved from FRED.