Real Gross Domestic Product: Finance and Insurance (52) in Montana
MTFININSRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,833.00
Year-over-Year Change
13.68%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the real gross domestic product (GDP) of the finance and insurance industry in Montana. It provides insight into the economic performance and growth of this important sector within the state.
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: Finance and Insurance (52) in Montana tracks the inflation-adjusted economic output of the finance and insurance industry in the state. It is a key indicator used by economists and policymakers to analyze the health and competitiveness of Montana's financial services sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This economic indicator is widely referenced by analysts, investors, and government officials to assess the business climate and development of Montana's finance and insurance industry.
Key Facts
- Montana's finance and insurance sector accounts for over 5% of the state's total GDP.
- This industry has grown at an average annual rate of 2.8% in Montana over the past decade.
- The COVID-19 pandemic had a moderate impact on the finance and insurance sector in Montana compared to other industries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the finance and insurance industry in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides important insights into the performance and growth of a key industry within Montana's economy, which is valuable information for policymakers, investors, and other economic stakeholders.
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 income and product accounting methods.
Q: How is this trend used in economic policy?
A: This economic indicator is widely referenced by analysts, investors, and government officials to assess the business climate and development of Montana's finance and insurance industry, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with typical update delays of 1-2 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Finance and Insurance (52) in Montana (MTFININSRGSP), retrieved from FRED.