Real Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Minnesota
MNFRBCIRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,992.20
Year-over-Year Change
-1.17%
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 sector in Minnesota. It provides insights into the economic activity and performance of this critical industry within 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 Minnesota series tracks the inflation-adjusted output of this sector, which includes commercial banks, credit unions, and other financial institutions. This metric is used by economists and policymakers to analyze the health and growth of Minnesota's financial services industry.
Methodology
The data is collected and calculated by the U.S. Federal Reserve using national income and product accounts.
Historical Context
This trend is relevant for understanding the role of financial services in Minnesota's economy and can inform policy decisions and market analyses.
Key Facts
- Minnesota's financial services sector accounts for over 5% of the state's GDP.
- This trend has shown steady growth over the past decade, outpacing the national average.
- The credit intermediation industry is a major employer in Minnesota, with over 100,000 jobs.
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 services sector in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and growth of Minnesota's critical financial services industry, which is an important driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve using national income and product accounts.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the health and growth of Minnesota's financial services sector, which can inform policy decisions and market analyses.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the Federal Reserve, with a typical release delay of 1-2 months.
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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 Minnesota (MNFRBCIRGSP), retrieved from FRED.