Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in Minnesota
MNRERENTLEARQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
52,673.00
Year-over-Year Change
8.10%
Date Range
1/1/2005 - 1/1/2025
Summary
This series measures the real gross domestic product (GDP) of the real estate and rental and leasing industry in Minnesota. It is an important indicator of the state's 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 real estate and rental and leasing industry is a significant component of Minnesota's economy. This data series provides a measure of the real, inflation-adjusted GDP contribution from this industry, offering insights into its growth, productivity, and overall economic impact within the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
Policymakers and analysts use this metric to assess the health and trajectory of Minnesota's real estate and rental markets, which have broad implications for the state's broader economic performance.
Key Facts
- Minnesota's real estate and rental/leasing industry accounts for over 13% of the state's total GDP.
- This sector has seen steady growth of around 3% annually over the past decade.
- The data is released quarterly with a 2-month lag.
FAQs
Q: What does this economic trend measure?
A: This data series measures the real, inflation-adjusted gross domestic product (GDP) of the real estate and rental and leasing industry in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: The real estate and rental/leasing sector is a major component of Minnesota's economy, so this metric provides important insights into the health and performance of this key industry.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the real estate market's contribution to Minnesota's overall economic growth and development, informing policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a 2-month lag, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in Minnesota (MNRERENTLEARQGSP), retrieved from FRED.