Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in Rhode Island
RIRERENTLEAQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
124.39
Year-over-Year Change
9.76%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real estate and rental and leasing industry's contribution to Rhode Island's real Gross Domestic Product (GDP). It provides insights into the productivity and growth of this key sector of 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 Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in Rhode Island tracks the volume of output from this industry, adjusted for inflation. It is a valuable indicator of the sector's performance and its role in the state's overall economic activity.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index methodology.
Historical Context
This trend is closely monitored by economists, policymakers, and industry analysts to assess the health and competitiveness of Rhode Island's real estate market.
Key Facts
- The index is based on 2012 as the reference year.
- Real estate and rental and leasing account for over 20% of Rhode Island's GDP.
- The trend has shown steady growth since the Great Recession.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real estate and rental and leasing industry's contribution to the real Gross Domestic Product (GDP) of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the productivity and growth of a key sector of Rhode Island's economy, which is closely monitored by economists, policymakers, and industry analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index methodology.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the health and competitiveness of Rhode Island's real estate market, which is an important driver of the state's overall economic activity.
Q: Are there update delays or limitations?
A: The data is subject to regular updates by the U.S. Bureau of Economic Analysis, with typical release lags of several months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in Rhode Island (RIRERENTLEAQQGSP), retrieved from FRED.