Real Gross Domestic Product: Insurance Carriers and Related Activities (524) in Mississippi
MSINSCRARGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,608.70
Year-over-Year Change
64.47%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the insurance carriers and related activities industry in Mississippi. It provides insights into the performance and contribution of this sector to the state's overall economic growth.
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: Insurance Carriers and Related Activities (524) in Mississippi series tracks the inflation-adjusted output of the insurance industry, which includes insurance carriers, agencies, brokerages, and other related activities. This metric helps economists and policymakers understand the dynamics and role of the insurance sector within Mississippi's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using the North American Industry Classification System (NAICS).
Historical Context
This trend is used by economists, policymakers, and industry analysts to assess the health and competitiveness of Mississippi's insurance sector and its influence on the state's overall economic performance.
Key Facts
- The insurance industry accounts for approximately 3% of Mississippi's GDP.
- Real GDP in the insurance sector has grown by 20% over the past decade in Mississippi.
- The insurance industry employs over 25,000 people in Mississippi.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the insurance carriers and related activities industry in the state of Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and contribution of the insurance sector to Mississippi's overall economic growth, which is useful for economists, policymakers, and industry 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 the North American Industry Classification System (NAICS).
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and industry analysts to assess the health and competitiveness of Mississippi's insurance sector and its influence on the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and potential revisions by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Insurance Carriers and Related Activities (524) in Mississippi (MSINSCRARGSP), retrieved from FRED.