Chain-Type Quantity Index for Real GDP: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Rhode Island
RIRENTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
189.14
Year-over-Year Change
5.31%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Rhode Island measures the real output of this economic sector 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
This index tracks changes in the real, inflation-adjusted value of the rental and leasing services industry's contribution to Rhode Island's gross domestic product over time. It is a key indicator for analyzing the performance and trends within this important service sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is used by economists, policymakers, and businesses to assess the health and growth of Rhode Island's rental and leasing services industry.
Key Facts
- The index has a base year of 2012.
- Rental and leasing services contributed 2.2% to Rhode Island's GDP in 2021.
- The index reached a high of 114.15 in 2019 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the rental and leasing services industry in Rhode Island's economy.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the performance and growth of a key services sector in the Rhode Island economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this index to assess the health and dynamics of Rhode Island's rental and leasing services industry, which informs economic and industry-specific policies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Rhode Island (RIRENTQGSP), retrieved from FRED.