Gross Domestic Product: Real Estate and Rental and Leasing (53) in Illinois
ILRERENTLEANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
152,420.00
Year-over-Year Change
16.33%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) of the real estate and rental and leasing industry in Illinois. It provides insights into the performance and contribution of this sector to the state's overall economic activity.
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 estate and rental and leasing industry is a major component of Illinois' GDP, reflecting the importance of this sector in the state's economy. This trend is used by economists and policymakers to analyze the health and growth of this industry, which can have significant implications for the broader economic landscape.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is closely monitored by policymakers and market analysts to assess the state's economic conditions and guide policy decisions.
Key Facts
- Illinois' real estate and rental and leasing industry accounts for a significant portion of the state's GDP.
- This trend has shown steady growth over the past decade, reflecting the resilience of the sector.
- The performance of this industry is closely linked to the overall health of the Illinois housing market and broader economic conditions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the real estate and rental and leasing industry in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and contribution of the real estate and rental and leasing sector to Illinois' overall economic activity, which is crucial for understanding the state's economic landscape.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers and market analysts to assess the state's economic conditions and guide policy decisions, particularly those related to the real estate and housing market.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Bureau of Economic Analysis, but there may be a lag in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Real Estate and Rental and Leasing (53) in Illinois (ILRERENTLEANQGSP), retrieved from FRED.