Real Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Rhode Island
RIFININSREALRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15,751.00
Year-over-Year Change
8.79%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the finance, insurance, real estate, rental, and leasing industries in Rhode Island. It provides important insights into the health and performance of these key economic sectors in the state.
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: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Rhode Island series tracks the inflation-adjusted output of these industries, which are crucial contributors to the state's economy. Economists and policymakers analyze this data to assess economic conditions and make informed decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national accounting methods.
Historical Context
This trend is widely used by economists, investors, and policymakers to monitor the performance of Rhode Island's economy and inform economic policy decisions.
Key Facts
- Rhode Island's finance, insurance, real estate, rental, and leasing industries account for over 25% of the state's GDP.
- This sector has experienced steady growth over the past decade, outpacing the overall state economy.
- The real estate and rental/leasing subsectors are the largest contributors to this industry group in Rhode Island.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the finance, insurance, real estate, rental, and leasing industries in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and health of key economic sectors in Rhode Island, which are crucial for understanding the state's overall economic conditions and informing 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 using established national accounting methods.
Q: How is this trend used in economic policy?
A: Economists, investors, and policymakers closely monitor this trend to assess the state of Rhode Island's economy and make informed decisions about economic policies and investments.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with some potential for slight delays in publication. The series may also be subject to revisions as more complete information becomes available.
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Citation
U.S. Bureau of Economic Analysis, Real Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Rhode Island (RIFININSREALRGSP), retrieved from FRED.