Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Rhode Island
RIFININSQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
97.67
Year-over-Year Change
6.54%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Rhode Island measures the real output of the finance and insurance sector in 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
This index provides a measure of the real, inflation-adjusted value added by the finance and insurance industry in Rhode Island. It allows economists and policymakers to track changes in the productivity and growth of this key economic sector over time.
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 index is used to inform economic policy and business decisions related to the finance and insurance industry in Rhode Island.
Key Facts
- The base year for this index is 2012.
- Rhode Island's finance and insurance sector accounts for over 8% of the state's total GDP.
- The index has shown steady growth in the sector since the Great Recession.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the finance and insurance industry in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This index provides valuable insight into the productivity and growth of a key industry in Rhode Island's economy, which is useful for economic analysis and policy decisions.
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 index is used to inform economic policy and business decisions related to the finance and insurance industry in Rhode Island.
Q: Are there update delays or limitations?
A: The data is subject to the normal update schedule and potential revisions of the U.S. Bureau of Economic Analysis's state-level GDP estimates.
Related Trends
Personal Consumption Expenditures: Goods for Rhode Island
RIPCEG
Per Capita Personal Consumption Expenditures: Services for Rhode Island
RIPCEPCSRV
Average Weekly Hours of All Employees: Construction in Rhode Island
SMU44000002000000002
State Government Tax Collections, Death and Gift Taxes in Rhode Island
RIDTHGFTAX
Real Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in Rhode Island
RIAMUSERGSP
All Employees: Health Care: Nursing and Residential Care Facilities in Rhode Island
SMU44000006562300001A
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Rhode Island (RIFININSQGSP), retrieved from FRED.