Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in North Carolina
NCRERENTLEAQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
130.16
Year-over-Year Change
41.66%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in North Carolina measures the inflation-adjusted output of the real estate and rental and leasing industry in the state. This metric is crucial for economists and policymakers to analyze the health and growth of North Carolina'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
This index tracks the real, or inflation-adjusted, production and output of businesses in the real estate, rental, and leasing sector of North Carolina's gross domestic product (GDP). It provides a detailed view of this important industry's contribution to the state's overall economic activity.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
This metric informs economic policy decisions and is closely monitored by real estate investors and analysts.
Key Facts
- North Carolina's real estate sector accounts for over 20% of the state's GDP.
- The index has grown by an average of 3% annually over the past decade.
- The COVID-19 pandemic caused a 6% decline in the index in 2020.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output and production of businesses in the real estate, rental, and leasing sector of North Carolina's economy.
Q: Why is this trend relevant for users or analysts?
A: This metric provides critical insights into the health and growth of a key industry within North Carolina's economy, informing investment decisions and economic policy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Q: How is this trend used in economic policy?
A: This index is closely monitored by policymakers and analysts to assess the state's economic performance and make informed decisions regarding real estate, taxation, and other policies.
Q: Are there update delays or limitations?
A: The data is typically published with a 2-3 month delay and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in North Carolina (NCRERENTLEAQGSP), retrieved from FRED.