Gross Domestic Product: Finance and Insurance (52) in Minnesota
MNFININSNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
44,328.90
Year-over-Year Change
22.64%
Date Range
1/1/2005 - 1/1/2025
Summary
This trend measures the gross domestic product (GDP) of the finance and insurance industry in Minnesota. It is an important indicator of economic activity and performance in this key sector.
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 GDP of the finance and insurance industry in Minnesota represents the total value of goods and services produced by this sector within the state. It is a crucial metric for understanding the strength and competitiveness of Minnesota's financial services ecosystem.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is closely monitored by policymakers, investors, and economic analysts to gauge the health and growth of Minnesota's financial services industry.
Key Facts
- Minnesota's finance and insurance sector accounts for over 6% of the state's total GDP.
- This industry has experienced steady growth in Minnesota over the past decade.
- The finance and insurance sector is a major employer in the state, providing over 150,000 jobs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the finance and insurance industry in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This trend is an important indicator of the performance and competitiveness of Minnesota's financial services sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers, investors, and economic analysts closely monitor this trend to gauge the health and growth of Minnesota's finance and insurance industry, which informs economic development strategies and investment decisions.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with some potential for minor delays in publication.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Finance and Insurance (52) in Minnesota (MNFININSNQGSP), retrieved from FRED.