Real Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in Pennsylvania
PAFNDTRSTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15.80
Year-over-Year Change
-92.99%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) for funds, trusts, and other financial vehicles in the state of Pennsylvania. It provides insight into the performance and economic contribution of this important financial services sector.
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 Pennsylvania metric tracks the inflation-adjusted output of this industry within the state's economy. It is a key indicator used by economists and policymakers to assess the health and growth of Pennsylvania's financial services industry.
Methodology
This data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting principles.
Historical Context
Trends in this metric can inform decisions around economic development, tax policy, and regulatory oversight of the financial services industry in Pennsylvania.
Key Facts
- Pennsylvania's financial services sector accounts for over 7% of the state's total GDP.
- This metric has grown by an average of 2.5% annually over the past decade.
- The financial vehicles industry is a major employer in Pennsylvania, with over 50,000 workers.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the real (inflation-adjusted) gross domestic product of the funds, trusts, and other financial vehicles industry within the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insight into the performance and economic importance of Pennsylvania's financial services sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting principles.
Q: How is this trend used in economic policy?
A: Trends in this metric can inform decisions around economic development, tax policy, and regulatory oversight of the financial services industry in Pennsylvania.
Q: Are there update delays or limitations?
A: This data is published quarterly by the U.S. Bureau of Economic Analysis, with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in Pennsylvania (PAFNDTRSTRGSP), retrieved from FRED.