Chain-Type Quantity Index for Real GDP: Insurance Carriers and Related Activities (524) in Arkansas
ARINSCRAQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
125.65
Year-over-Year Change
55.29%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Insurance Carriers and Related Activities (524) in Arkansas measures the real output of the insurance industry in the state. This metric is important for economists and policymakers to understand the performance and contribution of this key sector to 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
This index provides a measure of the real (inflation-adjusted) quantity of goods and services produced by insurance carriers and related activities in Arkansas. It is a chained-type index that tracks changes in the volume of output over time, offering insights into the industry's economic trends and productivity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national accounting principles.
Historical Context
This metric is used by economists, policymakers, and industry analysts to assess the economic health and growth of the insurance sector in Arkansas.
Key Facts
- Arkansas's insurance industry accounts for approximately 2.5% of the state's GDP.
- The real output of the insurance sector in Arkansas has grown by an average of 3.2% annually over the past decade.
- The insurance industry is one of the largest private employers in Arkansas, with over 35,000 workers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted output of the insurance carriers and related activities industry in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the performance and contribution of the insurance industry to Arkansas's economy, which is a key sector for the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and industry analysts to assess the economic health and growth of the insurance sector in Arkansas, which informs policy decisions and market strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Federal Reserve with a typical 2-month delay.
Related Trends
Number of Identified Exporters to Ireland from Arkansas
ARIRLA475SCEN
Gross Domestic Product: Government and Government Enterprises (92) in Arkansas
ARGOVNGSP
90% Confidence Interval Lower Bound of Estimate of Median Household Income for Arkansas
MHICILBAR05000A052NCEN
Per Capita Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households for Arkansas
ARPCEPCFCENPISH
Projected Business Formations Within Eight Quarters: Total for All NAICS in Arkansas
BFPBF8QTOTALSAAR
All Employees: Leisure and Hospitality: Food Services and Drinking Places in Arkansas
SMU05000007072200001
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Insurance Carriers and Related Activities (524) in Arkansas (ARINSCRAQGSP), retrieved from FRED.