Chain-Type Quantity Index for Real GDP: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Minnesota
MNRENTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
269.15
Year-over-Year Change
129.81%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP measures the real output of the rental and leasing services and lessors of nonfinancial intangible assets industry in Minnesota. This trend is an important indicator of economic activity and productivity 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
This index tracks the real, inflation-adjusted output of establishments primarily engaged in renting, leasing, or otherwise allowing the use of tangible or intangible assets in Minnesota. It is a valuable measure for analyzing the performance and trends within this industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting practices.
Historical Context
Policymakers and analysts use this index to assess the health and contributions of the rental and leasing services industry to the broader Minnesota economy.
Key Facts
- The index is measured with 2012 as the base year.
- Minnesota's rental and leasing services industry accounts for over 2% of the state's GDP.
- This sector has seen steady growth in recent years, outpacing the overall state economy.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the rental and leasing services and lessors of nonfinancial intangible assets industry in Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and contributions of a key services sector within the Minnesota 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 practices.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the health and contributions of the rental and leasing services industry to the broader Minnesota economy.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Minnesota (MNRENTQGSP), retrieved from FRED.