Chain-Type Quantity Index for Real GDP: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Alabama
ALFININSREALQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
114.72
Year-over-Year Change
11.11%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Alabama measures the real output of this key economic sector in the state. This data is important for analyzing the health and growth of Alabama's service-based economy.
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 real, inflation-adjusted output of the finance, insurance, real estate, rental, and leasing industries in Alabama. It provides a quantitative measure of the economic activity and productivity within this crucial service sector, which is a significant driver of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Historical Context
Policymakers and analysts monitor this index to assess the performance and trends within Alabama's service-based economy.
Key Facts
- The finance, insurance, and real estate sector accounts for over 20% of Alabama's gross domestic product.
- This index has grown by an average of 2.5% annually over the past decade.
- Alabama's FIRE sector is a major employer, providing over 250,000 jobs statewide.
FAQs
Q: What does this economic trend measure?
A: This index tracks the real, inflation-adjusted output of the finance, insurance, real estate, rental, and leasing industries in Alabama.
Q: Why is this trend relevant for users or analysts?
A: It provides a quantitative measure of the economic activity and productivity within this crucial service sector, which is a significant driver of 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-weighted methodology.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this index to assess the performance and trends within Alabama's service-based economy.
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, Insurance, Real Estate, Rental, and Leasing (52, 53) in Alabama (ALFININSREALQGSP), retrieved from FRED.