Real Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in North Carolina
NCFNDTRSTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21.20
Year-over-Year Change
-92.55%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of funds, trusts, and other financial vehicles in North Carolina. It provides insight into the performance and contribution of the financial services sector to the state's overall economic activity.
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: Funds, Trusts, and Other Financial Vehicles (525) in North Carolina metric tracks the inflation-adjusted output of the financial services industry, which is a key component of the state's economy. Analysts and policymakers use this data to assess the financial sector's role in North Carolina's economic growth and development.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for understanding the health and competitiveness of North Carolina's financial services industry, which informs economic and regulatory policies at the state and national levels.
Key Facts
- North Carolina's financial services sector accounts for over 7% of the state's GDP.
- Real GDP for funds, trusts, and other financial vehicles in North Carolina grew by 3.2% in 2021.
- The financial services industry is the second-largest contributor to North Carolina's economy after manufacturing.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the funds, trusts, and other financial vehicles industry in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the performance and contribution of the financial services sector to North Carolina's overall economic activity, which is crucial for understanding the state's economic growth and development.
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 accounting principles.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding the health and competitiveness of North Carolina's financial services industry, which informs economic and regulatory policies at the state and national levels.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and potential revisions of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in North Carolina (NCFNDTRSTRGSP), retrieved from FRED.