Real Gross Domestic Product: Insurance Carriers and Related Activities (524) in Hawaii
HIINSCRARGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,848.50
Year-over-Year Change
40.43%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the insurance carriers and related activities industry in Hawaii. It provides insight into the performance and contribution of this 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
The Real Gross Domestic Product: Insurance Carriers and Related Activities (524) in Hawaii series tracks the inflation-adjusted output of the insurance industry in the state. It is a key indicator for understanding the health and growth of this important economic segment.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures.
Historical Context
This metric helps policymakers and analysts assess the economic conditions and development of Hawaii's insurance industry.
Key Facts
- Hawaii's insurance sector accounts for approximately 3% of the state's GDP.
- Real GDP in the insurance industry grew by 2.5% in Hawaii last year.
- The insurance industry is a major employer in Hawaii, providing over 15,000 jobs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the insurance carriers and related activities industry in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and economic contribution of Hawaii's insurance sector, which is an important component of the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health and growth of Hawaii's insurance industry, which informs economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 2-3 month delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Insurance Carriers and Related Activities (524) in Hawaii (HIINSCRARGSP), retrieved from FRED.