Real Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in South Carolina
SCFININSREALRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
55,254.40
Year-over-Year Change
49.40%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the finance, insurance, real estate, rental, and leasing sectors in South Carolina. It provides insight into the economic performance and growth of these crucial industries 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
The Real Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in South Carolina trend represents the inflation-adjusted total economic output of these related sectors in the state. It is a key indicator of the health and competitiveness of South Carolina's financial and real estate markets.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This trend is closely monitored by policymakers, investors, and economic analysts to assess the strength and trajectory of South Carolina's economy.
Key Facts
- South Carolina's finance, insurance, and real estate sectors account for over 20% of the state's total GDP.
- This trend has shown steady growth over the past decade, outpacing the national average.
- The real estate and rental/leasing subsectors make up the largest component of this economic indicator.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the finance, insurance, real estate, rental, and leasing sectors in the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and growth of South Carolina's crucial financial and real estate industries, which are key drivers of 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 income and product accounting methods.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, investors, and economic analysts to assess the strength and trajectory of South Carolina's economy and inform decisions related to economic development, regulation, and investment.
Q: Are there update delays or limitations?
A: There may be some delays in data availability, as this trend is subject to the publication schedule of the U.S. Bureau of Economic Analysis. Users should check for the most recent data release.
Related Trends
Not in Labor Force: Discouraged Workers for South Carolina
DISCWORKSC
Industrial Carbon Dioxide Emissions, Petroleum for South Carolina
EMISSCO2TOTVICPESCA
All Employees: Government: Local Government in South Carolina
SMS45000009093000001
Persons Unemployed 15 Weeks or Longer, as a Percent of the Civilian Labor Force for South Carolina
U1UNEM1SC
Production or Nonsupervisory Employees: Manufacturing: Non-Durable Goods in South Carolina
SMU45000003200000006SA
All Employees: Professional and Business Services: Administrative and Support and Waste Management and Remediation Services in South Carolina
SMS45000006056000001
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in South Carolina (SCFININSREALRGSP), retrieved from FRED.