Real Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Maryland
MDFRBCIRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,056.60
Year-over-Year Change
-23.71%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the monetary authorities, credit intermediation, and related services industry in the state of Maryland. It is an important indicator for analyzing the performance and growth of the financial 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
The Real Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Maryland is a key metric that tracks the inflation-adjusted economic output of the financial services industry in the state. It is used by economists and policymakers to assess the health and contribution of this vital sector to the overall state economy.
Methodology
The data is collected and calculated by the U.S. Federal Reserve using industry-level GDP estimates.
Historical Context
This trend provides valuable insights for financial institutions, regulators, and economic development agencies in Maryland.
Key Facts
- Maryland's financial services industry accounts for over 5% of the state's total GDP.
- The sector has seen steady growth of around 3% annually over the past decade.
- Credit intermediation, including banking and lending, makes up the largest share of the industry's output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the monetary authorities, credit intermediation, and related financial services industry in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and growth of Maryland's critical financial services sector, which is an important driver of the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve using industry-level GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is used by financial institutions, regulators, and economic development agencies in Maryland to analyze the health and contribution of the state's financial services industry.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, with some inherent time lags in the reporting.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Maryland (MDFRBCIRGSP), retrieved from FRED.