Gross Domestic Product: Finance and Insurance (52) in Alabama
Annual, Not Seasonally Adjusted
ALFININSNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17,505.90
Year-over-Year Change
61.96%
Date Range
1/1/1997 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted series measures financial institutions' gross output in the United States. This metric is crucial for analyzing productivity and growth in the financial 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
This series represents the total value of goods and services produced by financial institutions in the U.S. economy on an annual basis, without adjustments for seasonal variations. It provides insights into the overall performance and contribution of the financial industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on surveys and administrative records.
Historical Context
Financial industry output data is used by policymakers, economists, and market analysts to assess the health and role of the financial sector within the broader economy.
Key Facts
- The financial industry accounts for around 8% of U.S. GDP.
- Financial sector output grew by 4.2% in 2021 after declining in 2020.
- The COVID-19 pandemic had a significant impact on financial industry performance.
FAQs
Q: What does this economic trend measure?
A: This series measures the total gross output of the financial industry in the United States on an annual, non-seasonally adjusted basis.
Q: Why is this trend relevant for users or analysts?
A: The financial industry's output is a key indicator of productivity and growth in the sector, which is crucial for understanding the broader economy.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects and calculates this data based on surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess the health and role of the financial industry within the overall economy, informing policy decisions.
Q: Are there update delays or limitations?
A: There may be lags in data reporting, and the non-seasonally adjusted nature of the series can make it less useful for short-term analysis.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (ALFININSNGSP), retrieved from FRED.