Real Gross Domestic Product: Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523) in Rhode Island
RISECCOMINVRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
860.10
Year-over-Year Change
-17.09%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the securities, commodity contracts, and other financial investments and related activities industry in Rhode Island. It provides important insights into the performance and growth of this key financial 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: Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523) in Rhode Island series tracks the inflation-adjusted output of this specific industry in the state. It is a valuable indicator of the financial industry's contribution to Rhode Island's overall economic activity and development.
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 widely used by economists, policymakers, and financial analysts to assess the health and growth prospects of Rhode Island's financial services sector.
Key Facts
- Rhode Island's financial services sector accounts for over 10% of the state's GDP.
- This industry has seen steady growth in recent years, outpacing the overall state economy.
- The securities and investments subsector is a key driver of the financial industry's performance in Rhode Island.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the securities, commodity contracts, and other financial investments and related activities 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 growth of Rhode Island's key financial services sector, which is a significant contributor to the state's overall economic activity.
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 widely used by economists, policymakers, and financial analysts to assess the health and growth prospects of Rhode Island's financial services sector, which informs economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523) in Rhode Island (RISECCOMINVRGSP), retrieved from FRED.