Real Gross Domestic Product: Management of Companies and Enterprises (55) in Rhode Island
RIMNGCOENTPRRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,146.90
Year-over-Year Change
33.68%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the management of companies and enterprises industry in Rhode Island. It provides insights into the performance and growth of this specific sector 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 Gross Domestic Product: Management of Companies and Enterprises (55) in Rhode Island series represents the inflation-adjusted value-added output of the management of companies and enterprises industry in the state. This metric is used by economists and policymakers to analyze the health and contribution of this industry to Rhode Island's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for understanding the competitive position and growth potential of Rhode Island's management of companies and enterprises industry relative to other states and the national economy.
Key Facts
- Rhode Island's management of companies and enterprises industry accounts for approximately 4% of the state's total GDP.
- This sector has experienced steady growth, with real GDP increasing by 15% over the past decade.
- The management of companies and enterprises industry is one of the highest-paying sectors in Rhode Island, with average wages 25% above the state's overall private-sector average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the management of companies and enterprises industry in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and growth of the management of companies and enterprises industry, which is an important sector within Rhode Island'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 using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding the competitive position and growth potential of Rhode Island's management of companies and enterprises industry relative to other states and the national economy.
Q: Are there update delays or limitations?
A: The data is published with a typical lag of 2-3 months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Management of Companies and Enterprises (55) in Rhode Island (RIMNGCOENTPRRGSP), retrieved from FRED.