Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in Rhode Island
RIRERENTLEARGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,840.50
Year-over-Year Change
10.39%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the real estate and rental and leasing industry in Rhode Island. It provides insights into the performance and contribution of this key 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 Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in Rhode Island series tracks the inflation-adjusted value added by this industry to the state's GDP. It is an important indicator of the health and growth of Rhode Island's real estate and rental markets.
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 closely monitored by policymakers, economists, and real estate market participants to assess economic conditions and inform decision-making.
Key Facts
- Rhode Island's real estate and rental and leasing industry accounts for over 16% of the state's GDP.
- This trend has shown steady growth over the past decade, reflecting the strong performance of the state's housing and commercial property markets.
- The COVID-19 pandemic had a temporary negative impact on this industry, but it has since rebounded to pre-pandemic levels.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the real estate and rental and leasing industry 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 contribution of the real estate sector to Rhode Island's overall economic activity, which is crucial for policymakers, investors, and industry participants.
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 closely monitored by policymakers, economists, and real estate market participants to assess economic conditions and inform decision-making related to the housing and commercial property markets in Rhode Island.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with a lag of a few months from the end of the reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in Rhode Island (RIRERENTLEARGSP), retrieved from FRED.