Gross Domestic Product: Finance and Insurance (52) in Rhode Island
RIFININSNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,138.10
Year-over-Year Change
28.29%
Date Range
1/1/2005 - 1/1/2025
Summary
The 'Gross Domestic Product: Finance and Insurance (52) in Rhode Island' metric measures the economic output of the finance and insurance sector in Rhode Island. This data point is crucial for understanding the state's economic composition and growth trends.
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 series represents the gross domestic product (GDP) originating in the finance and insurance industry sector (NAICS code 52) within the state of Rhode Island. It provides insights into the relative importance and performance of this key economic driver for the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
Analysts and policymakers use this metric to assess the health and competitiveness of Rhode Island's financial services industry.
Key Facts
- Rhode Island's finance and insurance sector accounts for over 10% of the state's total GDP.
- This industry has experienced steady growth in Rhode Island over the past decade.
- The finance and insurance sector is a key driver of economic activity and employment in the state.
FAQs
Q: What does this economic trend measure?
A: This metric measures the gross domestic product (GDP) originating in the finance and insurance industry sector within the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This data point provides insights into the relative importance and performance of Rhode Island's finance and insurance industry, 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 as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to assess the health and competitiveness of Rhode Island's financial services industry, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and revisions by the Bureau of Economic Analysis, and may have a slight delay compared to other economic indicators.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Finance and Insurance (52) in Rhode Island (RIFININSNQGSP), retrieved from FRED.