Chain-Type Quantity Index for Real GDP: Insurance Carriers and Related Activities (524) in Mississippi
MSINSCRAQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
118.03
Year-over-Year Change
64.47%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Insurance Carriers and Related Activities (524) in Mississippi measures the inflation-adjusted output of the insurance industry in the state. This metric is important for economists and policymakers to assess the health and performance of a key sector of the state's economy.
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 inflation-adjusted gross domestic product (GDP) of the insurance industry in Mississippi, a significant component of the state's economy. It provides a measure of the real quantity or volume of economic activity in this sector, rather than just the nominal dollar value.
Methodology
The U.S. Bureau of Economic Analysis calculates this index using a chain-weighted formula to track changes in real output over time.
Historical Context
This trend is used by analysts and policymakers to understand economic conditions and the role of the insurance industry in Mississippi.
Key Facts
- The insurance industry accounts for over 4% of Mississippi's GDP.
- This index uses 2012 as the base year for calculating real output.
- The index value has increased by 10% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted output or real GDP of the insurance industry in Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and contribution of the insurance sector to Mississippi's economy.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis calculates this index using a chain-weighted formula to track changes in real output over time.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this index to understand economic conditions and the role of the insurance industry in Mississippi.
Q: Are there update delays or limitations?
A: There may be some delays in the release of this data, as it is calculated as part of the broader GDP statistics for the state.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Insurance Carriers and Related Activities (524) in Mississippi (MSINSCRAQGSP), retrieved from FRED.