Gross Domestic Product: Real Estate and Rental and Leasing (53) in North Carolina
NCRERENTLEANGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
106,752.90
Year-over-Year Change
104.48%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures real estate and rental and leasing gross domestic product (GDP) in North Carolina. It provides insight into the economic importance of this industry for 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 estate and rental and leasing sector covers establishments primarily engaged in renting, leasing, or otherwise allowing the use of tangible or intangible assets. This measure helps economists and policymakers understand the contribution of this industry to North Carolina's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their state-level GDP estimates.
Historical Context
This trend is used to analyze the health and dynamics of North Carolina's real estate and rental markets.
Key Facts
- Real estate and rental/leasing contributed $83.7 billion to North Carolina's GDP in 2021.
- This sector accounted for 13.2% of North Carolina's total GDP in 2021.
- North Carolina's real estate and rental/leasing GDP grew by 5.1% in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contribution of the real estate and rental and leasing sector in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the economic importance of the real estate and rental/leasing industry for North Carolina, which is a key component of the state's overall economic activity.
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 their state-level GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the health and dynamics of North Carolina's real estate and rental markets, which can inform policy decisions related to housing, urban development, and economic growth.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Real Estate and Rental and Leasing (53) in North Carolina (NCRERENTLEANGSP), retrieved from FRED.