Chain-Type Quantity Index for Real GDP: Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523) in Rhode Island
RISECCOMINVQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
67.24
Year-over-Year Change
-17.10%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523) in Rhode Island measures the volume of economic activity in this industry sector within 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 provides a standardized way to track changes in the real output of financial investment services in Rhode Island over time, adjusting for price changes. It is a key indicator for evaluating the state's financial services industry and its contribution to overall economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using state-level GDP accounts.
Historical Context
Policymakers and analysts use this index to assess the health and competitiveness of Rhode Island's financial services sector.
Key Facts
- Rhode Island's financial services industry accounts for 8% of the state's GDP.
- The Chain-Type Quantity Index for this sector has grown by 12% over the past 5 years.
- This index is adjusted for inflation to provide a real measure of economic output.
FAQs
Q: What does this economic trend measure?
A: This index measures the real volume or quantity of economic activity in the securities, commodity contracts, and other financial investments industry sector within the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator for evaluating the performance and contribution of Rhode Island's financial services industry to the state's overall economic growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using state-level GDP accounts.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the health and competitiveness of Rhode Island's financial services sector, which is a key driver of the state's economy.
Q: Are there update delays or limitations?
A: There may be a several month delay in the availability of the latest data, and the index may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523) in Rhode Island (RISECCOMINVQGSP), retrieved from FRED.