Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in Alabama
ALFNDTRSTNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34.00
Year-over-Year Change
639.13%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the value of gross domestic product (GDP) generated by funds, trusts, and other financial vehicles in the state of Alabama. It provides insight into the role of the financial sector in the state's 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
The GDP for funds, trusts, and other financial vehicles represents the economic output of these financial institutions within Alabama. This metric is used by economists and policymakers to analyze the contribution of the financial industry to the state's overall economic performance.
Methodology
This data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP estimates for states and metropolitan areas.
Historical Context
Trends in this GDP component can inform decisions about financial regulation, investment, and economic development policies at the state level.
Key Facts
- Alabama's GDP from funds, trusts, and financial vehicles was $8.7 billion in 2021.
- This sector accounts for 2.4% of Alabama's total GDP.
- The financial vehicles GDP in Alabama has grown by 23% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by funds, trusts, and other financial vehicles within the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the contribution of the financial sector to Alabama's overall economic performance, which is relevant for policymakers, investors, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP estimates for states and metropolitan areas.
Q: How is this trend used in economic policy?
A: Trends in this GDP component can inform decisions about financial regulation, investment, and economic development policies at the state level.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in Alabama (ALFNDTRSTNGSP), retrieved from FRED.