Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Alabama
ALFININSQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
105.44
Year-over-Year Change
-8.23%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Alabama measures the real output of the finance and insurance sector in the state. This metric is crucial for understanding the economic performance and productivity of a key 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
This index tracks the quantity, or real output, of the finance and insurance industry in Alabama. It adjusts for price changes to provide a more accurate measure of the sector's economic activity and contribution to the state's gross domestic product.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index formula.
Historical Context
Policymakers and analysts use this index to assess the health and competitiveness of Alabama's financial services industry.
Key Facts
- The index uses 2012 as the base year.
- The finance and insurance sector accounts for over 6% of Alabama's GDP.
- The index has increased by 16% since 2012.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the finance and insurance industry in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the productivity and economic contribution of a key sector in Alabama's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index formula.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the health and competitiveness of Alabama's financial services industry.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Alabama (ALFININSQGSP), retrieved from FRED.