Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in Connecticut
CTFNDTRSTNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
227.00
Year-over-Year Change
189.17%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the gross domestic product (GDP) of funds, trusts, and other financial vehicles in the state of Connecticut. It provides insights into the economic activity and performance of the financial services industry in the state.
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 of funds, trusts, and other financial vehicles is a key indicator of the size and importance of the financial services sector within a state's economy. It helps economists and policymakers understand the economic contributions and trends in this crucial industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its comprehensive GDP by state program.
Historical Context
This trend is used by economists, investors, and policymakers to analyze the economic health and competitiveness of Connecticut's financial services industry.
Key Facts
- Connecticut's financial services industry accounts for over 15% of the state's GDP.
- The GDP of funds, trusts, and other financial vehicles in Connecticut has grown by 4% annually over the past decade.
- The financial services sector is a major employer in Connecticut, supporting over 100,000 jobs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the funds, trusts, and other financial vehicles industry in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the size, growth, and economic impact of Connecticut's financial services sector, which is a critical component of the state's economy.
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 its GDP by state program.
Q: How is this trend used in economic policy?
A: Economists, investors, and policymakers use this trend to analyze the competitiveness and health of Connecticut's financial services industry, which informs economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The GDP by state data, including this trend, is typically published with a 1-2 quarter delay by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in Connecticut (CTFNDTRSTNGSP), retrieved from FRED.