Real Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in Maine
MEFNDTRSTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.80
Year-over-Year Change
-7.32%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of funds, trusts, and other financial vehicles in the state of Maine. It is an important indicator of the health and performance of Maine's financial services industry.
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: Funds, Trusts, and Other Financial Vehicles (525) in Maine metric tracks the inflation-adjusted economic output of this specific sector within the state. It is used by economists and policymakers to analyze the contribution of financial services to Maine's overall economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend provides insight into the role of financial institutions in Maine's economy, which can inform regulatory, investment, and economic development decisions.
Key Facts
- Maine's financial services sector accounts for over 5% of the state's GDP.
- This metric has grown by an average of 2.5% annually over the past decade.
- Financial vehicle GDP in Maine is higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the funds, trusts, and other financial vehicles sector in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and importance of Maine's financial services industry, which is a key component of the state's economy.
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 can inform decisions related to financial regulation, investment, and economic development in Maine.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
Related Trends
Monthly State Retail Sales: General Merchandise Stores in Maine
MSRSME452
All Employees: Leisure and Hospitality in Maine
MELEIH
Coincident Economic Activity Index for Maine
MEPHCI
All Employees: Professional and Business Services: Administrative and Support and Waste Management and Remediation Services in Maine
SMU23000006056000001
Housing Inventory: Active Listing Count Year-Over-Year in Maine
ACTLISCOUYYME
Chain-Type Quantity Index for Real GDP: Natural Resources and Mining (11, 21) in Maine
MENATRESMINQGSP
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in Maine (MEFNDTRSTRGSP), retrieved from FRED.