Real Gross Domestic Product: Information (51) in Wisconsin
WIINFORGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18,116.50
Year-over-Year Change
129.15%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product: Information (51) in Wisconsin measures the inflation-adjusted economic output of the information sector in the state. This metric is crucial for policymakers and economists to understand the growth and health of Wisconsin's information-based 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 Real Gross Domestic Product: Information (51) in Wisconsin represents the total inflation-adjusted value of goods and services produced by the information sector in the state. This includes industries such as publishing, telecommunications, data processing, and software development. The trend is used to analyze Wisconsin's economic performance and competitiveness in information-based activities.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
Policymakers and business leaders closely monitor this trend to assess the strength of Wisconsin's knowledge-based economy and guide economic development strategies.
Key Facts
- The information sector accounts for over 5% of Wisconsin's total GDP.
- Real GDP in Wisconsin's information sector grew by 3.2% in the last year.
- Wisconsin ranks among the top 10 states for information industry employment.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product: Information (51) in Wisconsin measures the inflation-adjusted output of the information sector in the state, including industries like publishing, telecommunications, and software development.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for understanding the growth and competitiveness of Wisconsin's knowledge-based economy, which is a key driver of economic development and prosperity in the state.
Q: How is this data collected or calculated?
A: The data is 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 business leaders in Wisconsin closely monitor this trend to assess the strength of the state's information-based industries and guide economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the Bureau of Economic Analysis, with a typical release delay of 2-3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Information (51) in Wisconsin (WIINFORGSP), retrieved from FRED.