Real Gross Domestic Product: Insurance Carriers and Related Activities (524) in Montana
MTINSCRARGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
992.60
Year-over-Year Change
44.59%
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 Montana. It provides insight into the performance and growth of this key sector within 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
The Real Gross Domestic Product: Insurance Carriers and Related Activities (524) in Montana series tracks the inflation-adjusted output of businesses engaged in insurance-related activities, such as insurance agencies, brokerages, and third-party administration of insurance and pension funds. This metric is used by economists and policymakers to assess the health and contribution of Montana's insurance industry to the state's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Historical Context
Monitoring this trend can inform decisions related to insurance regulation, investment, and workforce planning in Montana.
Key Facts
- Insurance is a major industry in Montana, accounting for over 4% of the state's GDP.
- The insurance sector in Montana has experienced steady growth in recent years.
- Monitoring this trend can help policymakers understand the dynamics of the state's insurance market.
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 Montana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the performance and contribution of Montana's insurance industry to the state's overall economic activity, which is useful for policymakers, investors, 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 as part of its regional GDP estimates.
Q: How is this trend used in economic policy?
A: Monitoring this trend can inform decisions related to insurance regulation, investment, and workforce planning in Montana.
Q: Are there update delays or limitations?
A: The data is subject to the standard release schedule and revisions of the U.S. Bureau of Economic Analysis' regional GDP estimates.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Insurance Carriers and Related Activities (524) in Montana (MTINSCRARGSP), retrieved from FRED.