Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in Minnesota
MNRERENTLEAQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
125.40
Year-over-Year Change
21.08%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in Minnesota measures the real output of the real estate and rental and leasing industry in Minnesota. This metric is crucial for evaluating the state's economic growth and composition.
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 represents the chain-type quantity index for the real estate and rental and leasing industry in Minnesota, which is part of the broader real GDP measurement. It provides a standardized way to track changes in the industry's real output over time.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting practices.
Historical Context
This metric is widely used by economists, policymakers, and market analysts to assess the performance and contribution of Minnesota's real estate and leasing sector to the state's overall economic activity.
Key Facts
- The base year for this index is 2012.
- The index measures real output, not nominal value.
- Minnesota's real estate and leasing sector accounted for over 12% of the state's GDP in 2021.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output of the real estate and rental and leasing industry in the state of Minnesota. It provides a standardized way to track changes in the industry's production over time.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for evaluating the performance and contribution of Minnesota's real estate and leasing sector to the state's overall economic activity, which is valuable information for economists, policymakers, and market analysts.
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: This index is widely used by economists and policymakers to assess the health and growth of Minnesota's real estate and leasing industry, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with typical release delays of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in Minnesota (MNRERENTLEAQGSP), retrieved from FRED.