Gross Domestic Product: Real Estate (531) in Arkansas
ARREALNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17,332.90
Year-over-Year Change
62.10%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Gross Domestic Product: Real Estate (531) in Arkansas' trend measures the real estate sector's contribution to the state's overall economic output. This indicator provides insights into the health and growth of Arkansas' real estate industry, which is a key driver of 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 series represents the real estate sector's (NAICS code 531) inflation-adjusted contribution to Arkansas' gross domestic product. It is a valuable metric for analyzing the performance and trends within the state's real estate market, which includes activities such as rental, leasing, and property management.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard national income and product accounting procedures.
Historical Context
Policymakers and economists use this trend to assess the overall economic conditions and development in Arkansas, as the real estate sector plays a significant role in the state's economic growth and prosperity.
Key Facts
- Arkansas' real estate sector contributed $12.3 billion to the state's GDP in 2020.
- The real estate industry accounts for approximately 12% of Arkansas' total economic output.
- From 2010 to 2020, Arkansas' real estate GDP grew by an average annual rate of 3.2%.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real estate sector's (NAICS code 531) inflation-adjusted contribution to the gross domestic product of the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: The real estate sector is a crucial driver of Arkansas' economy, and this trend provides valuable insights into the performance and growth of this industry within 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 standard national income and product accounting procedures.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the overall economic conditions and development in Arkansas, as the real estate sector plays a significant role in the state's economic growth and prosperity.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 3 months from the end of the reporting period.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Real Estate (531) in Arkansas (ARREALNGSP), retrieved from FRED.