Gross Domestic Product: Real Estate and Rental and Leasing (53) in Pennsylvania
PARERENTLEANGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
131,784.80
Year-over-Year Change
57.71%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real estate and rental and leasing sector's contribution to the gross domestic product (GDP) of Pennsylvania. It provides insight into the performance and significance of this key industry 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 estate and rental and leasing sector encompasses a wide range of activities, including the operation of residential and commercial properties, as well as the leasing of equipment and other assets. This trend is a valuable indicator of economic activity and investment in Pennsylvania's real estate and related service industries.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive tracking of state-level GDP.
Historical Context
Policymakers and analysts use this trend to assess the health and growth of Pennsylvania's real estate market and its broader economic implications.
Key Facts
- Pennsylvania's real estate and rental and leasing sector accounts for a significant portion of the state's GDP.
- This trend has shown steady growth over the past decade, reflecting the importance of the real estate industry to Pennsylvania's economy.
- The performance of this sector is closely watched by policymakers and investors as an indicator of broader economic conditions in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the contribution of the real estate and rental and leasing sector to the gross domestic product (GDP) of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insight into the performance and significance of the real estate industry within Pennsylvania's economy, which is of interest to policymakers, investors, and economists.
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 comprehensive tracking of state-level GDP.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the health and growth of Pennsylvania's real estate market and its broader economic implications, which can inform policy decisions and investment strategies.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Bureau of Economic Analysis, but there may be some delays in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Real Estate and Rental and Leasing (53) in Pennsylvania (PARERENTLEANGSP), retrieved from FRED.