Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in South Carolina
SCFNDTRSTNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
123.40
Year-over-Year Change
86.97%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the Gross Domestic Product (GDP) of funds, trusts, and other financial vehicles in the state of South Carolina. It provides insights into the size and performance of the financial services sector in 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 Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in South Carolina metric tracks the economic output of financial intermediaries, investment funds, and similar entities operating within the state. This data is used by economists and policymakers to analyze the role of the financial industry in South Carolina's overall economic growth and development.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of its regional GDP reporting.
Historical Context
This economic trend is relevant for understanding the health and competitiveness of South Carolina's financial services sector and its contribution to the state's economic performance.
Key Facts
- South Carolina's GDP from funds, trusts, and other financial vehicles was $10.3 billion in 2021.
- The financial services sector accounts for over 6% of South Carolina's total economic output.
- This economic trend has shown steady growth, increasing by 23% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) of the funds, trusts, and other financial vehicles sector in the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the size and performance of South Carolina's financial services industry, which is an important contributor to the state's overall economic growth and development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of its regional GDP reporting.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the role of the financial industry in South Carolina's economy and inform decisions related to economic development, regulation, and investment in the state.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically several months after the end of the reporting period. There may also be revisions to previously reported figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in South Carolina (SCFNDTRSTNGSP), retrieved from FRED.