Chain-Type Quantity Index for Real GDP: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Illinois
ILFININSREALQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
96.60
Year-over-Year Change
-2.53%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Illinois measures the inflation-adjusted output of this key economic sector 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
This index tracks the real-term performance of a major service industry in Illinois, providing insight into the state's economic growth and structural composition.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using national accounts methodology.
Historical Context
Policymakers and analysts use this metric to assess the health and trajectory of Illinois' service-oriented economy.
Key Facts
- This index has a base year of 2012.
- Illinois' FIRE sector accounts for over 20% of the state's overall GDP.
- The index reached a high of 114.52 in 2019 before declining due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This metric measures the chain-type quantity index for the real GDP of the Finance, Insurance, Real Estate, Rental, and Leasing (FIRE) sector in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: The FIRE sector is a crucial component of Illinois' economy, and this index provides valuable insight into the real output and growth trends of this key service industry.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using national accounts methodology.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health and performance of Illinois' service-oriented economy, which informs economic and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Illinois (ILFININSREALQGSP), retrieved from FRED.