Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Alabama
ALFININSQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
103.28
Year-over-Year Change
-0.14%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Alabama measures the volume of economic output in the finance and insurance sector of Alabama's economy, adjusted for inflation.
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 provides a standardized measure of the real, inflation-adjusted GDP contributed by the finance and insurance industry in Alabama. It allows economists and policymakers to track growth, productivity, and structural changes in this key economic sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
Trends in this index can inform decisions around financial regulation, investment, and economic development policies in Alabama.
Key Facts
- Alabama's finance and insurance sector accounts for over 6% of its total GDP.
- This index has shown steady growth averaging 2.5% annually over the past decade.
- The index uses 2012 as its base year for calculating real, inflation-adjusted GDP.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted volume of economic output from Alabama's finance and insurance sector.
Q: Why is this trend relevant for users or analysts?
A: Trends in this index provide insights into the productivity, growth, and structural changes within a key industry 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 quantity index formula.
Q: How is this trend used in economic policy?
A: Policymakers and analysts can use this index to inform decisions around financial regulation, investment, and economic development in Alabama.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the U.S. Bureau of Economic Analysis, with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Alabama (ALFININSQQGSP), retrieved from FRED.