Real Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Wisconsin
WIDATAWWWRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,945.30
Year-over-Year Change
161.85%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the data processing, hosting, and other information services industry in Wisconsin. It is an important indicator for understanding the state's economic performance and technological sector.
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: Data Processing, Hosting, and Other Information Services (518-519) in Wisconsin series tracks the inflation-adjusted output of this key industry in the state. It provides insights into the relative strength and productivity of Wisconsin's information technology and digital services sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
Policymakers and industry analysts use this metric to gauge the competitiveness and growth potential of Wisconsin's technology-driven economy.
Key Facts
- Wisconsin's data processing and IT services sector accounts for over 3% of the state's total GDP.
- This industry has grown by 15% in real terms over the past 5 years in Wisconsin.
- The state ranks 7th nationally in the concentration of data processing and hosting jobs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the data processing, hosting, and other information services industry in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and competitiveness of Wisconsin's technology sector, which is an important driver of economic growth and innovation in the state.
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 income and product accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to gauge the growth potential of Wisconsin's technology-driven economy and inform economic development strategies.
Q: Are there update delays or limitations?
A: This data is published quarterly by the Bureau of Economic Analysis, with a typical 3-month lag between the end of the reference period and the release of the estimates.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Wisconsin (WIDATAWWWRGSP), retrieved from FRED.