Real Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Alabama
ALRENTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,781.40
Year-over-Year Change
75.05%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the rental and leasing services and lessors of nonfinancial intangible assets industry in Alabama. It provides insights into the performance and growth of this crucial sector within 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 Real Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Alabama metric tracks the inflation-adjusted output of businesses engaged in renting, leasing, or licensing tangible or intangible assets in the state. This data is used by economists and policymakers to assess the health and contribution of this service-oriented industry to Alabama's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This economic trend is relevant for understanding the performance of Alabama's service sector and guiding related policy decisions.
Key Facts
- Alabama's real GDP for rental and leasing services was $6.7 billion in 2021.
- This industry accounted for 3.2% of Alabama's total real GDP in 2021.
- The rental and leasing services sector in Alabama grew by 4.1% in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the rental and leasing services and lessors of nonfinancial intangible assets industry in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and growth of a crucial service-oriented sector within Alabama's economy, which is valuable information for economists, policymakers, and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the health and contribution of the rental and leasing services industry to Alabama's overall economic activity, which can inform relevant policy decisions.
Q: Are there update delays or limitations?
A: There may be a delay of several months between the end of the reference period and the publication of the data, and the data may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Alabama (ALRENTRGSP), retrieved from FRED.