Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in Rhode Island
RIFNDTRSTNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13.60
Year-over-Year Change
466.67%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of funds, trusts, and other financial vehicles in the state of Rhode Island. It is an important indicator for understanding the contribution of the financial sector to the state's overall economic activity.
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 Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in Rhode Island series represents the value-added output of this industry in the state. It is used by economists and policymakers to analyze the health and trends within Rhode Island's financial services industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Historical Context
This trend provides insight into the role of financial institutions in Rhode Island's economy, which is relevant for market analysis and economic policy decisions.
Key Facts
- Rhode Island's financial services industry accounts for over 10% of its total GDP.
- The Funds, Trusts, and Other Financial Vehicles sector has seen steady growth in recent years.
- This metric is tracked closely by state policymakers to monitor the health of Rhode Island's finance industry.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contribution of the funds, trusts, and other financial vehicles industry in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the performance and importance of Rhode Island's financial services sector, which is a key driver of the state's overall economic activity.
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 its regional GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers in Rhode Island use this trend to monitor the health and growth of the state's finance industry, which informs economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in Rhode Island (RIFNDTRSTNGSP), retrieved from FRED.