Chain-Type Quantity Index for Real GDP: Funds, Trusts, and Other Financial Vehicles (525) in Maine
MEFNDTRSTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
64.48
Year-over-Year Change
-6.85%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Funds, Trusts, and Other Financial Vehicles (525) in Maine measures the real output of the financial vehicles 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
This index tracks the inflation-adjusted production levels of Maine's financial vehicles sector, which includes investment funds, trusts, and other financial intermediaries. It is a key indicator of economic activity and growth in this important industry.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Historical Context
Policymakers and analysts use this index to assess the performance and contribution of Maine's financial services industry to the overall state economy.
Key Facts
- Maine's financial vehicles sector accounts for 5.2% of the state's GDP.
- The index has grown by 3.7% annually over the past decade.
- The financial vehicles industry employs over 12,000 people in Maine.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of Maine's financial vehicles industry, including investment funds, trusts, and other financial intermediaries.
Q: Why is this trend relevant for users or analysts?
A: The financial vehicles industry is a critical component of Maine's economy, and this index provides insights into the performance and growth of this sector.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the contribution of Maine's financial services industry to the overall state economy and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 2-month lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Funds, Trusts, and Other Financial Vehicles (525) in Maine (MEFNDTRSTQGSP), retrieved from FRED.