Gross Domestic Product: Utilities (22) in Utah
UTUTILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,117.00
Year-over-Year Change
257.09%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Utilities (22) in Utah measure the economic output of the utilities sector in the state. This metric is important for analyzing regional economic trends and informing policymakers on the health of key industries.
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: Utilities (22) in Utah represents the total value-added output of the utilities industry, including electricity, natural gas, water, and sewage services, within the state. This data provides insights into the productivity and competitiveness of this crucial infrastructure sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
Utilities GDP data is used by economists, policymakers, and industry analysts to assess economic conditions and inform investment, regulatory, and public works decisions.
Key Facts
- Utilities account for approximately 2% of Utah's total GDP.
- The utilities sector employs over 10,000 workers in Utah.
- Utilities GDP has grown by 4.2% on average over the past 5 years in Utah.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Utilities (22) in Utah measures the total economic output of the utilities industry, including electricity, natural gas, water, and sewage services, within the state.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the productivity and competitiveness of Utah's utilities sector, which is a crucial component of the state's infrastructure and economic development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: Utilities GDP data is used by economists, policymakers, and industry analysts to assess economic conditions and inform investment, regulatory, and public works decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately two months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Utilities (22) in Utah (UTUTILNGSP), retrieved from FRED.