Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in South Carolina
SCFRBCINGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,017.50
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 the monetary authorities, credit intermediation, and related services sector in South Carolina. It provides insights into the economic performance and contribution of this key industry in 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 SCFRBCINGSP series tracks the GDP of the financial services industry, including central banking, credit intermediation, and related activities, in the state of South Carolina. This data is used by economists and policymakers to assess the health and growth of this critical economic sector.
Methodology
The data is collected and calculated by the U.S. Federal Reserve based on standard GDP accounting methods.
Historical Context
This trend is relevant for understanding the role of financial services in South Carolina's economy and can inform policy decisions and market analysis.
Key Facts
- South Carolina's financial services industry accounts for over 5% of the state's total GDP.
- The GDP of the monetary authorities and credit intermediation sector in South Carolina has grown by 3% annually over the past decade.
- This economic trend is a key indicator of the strength and stability of South Carolina's financial services industry.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the monetary authorities, credit intermediation, and related services sector in the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the economic performance and contribution of South Carolina's financial services industry, which is a critical sector for the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve based on standard GDP accounting methods.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the health and growth of South Carolina's financial services sector, which can inform policy decisions and market analysis.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the Federal Reserve, and there may be a 1-2 quarter delay in the most recent figures being available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in South Carolina (SCFRBCINGSP), retrieved from FRED.