Real Gross Domestic Product: Real Estate (531) in South Carolina
SCREALRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38,855.80
Year-over-Year Change
47.82%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the real estate industry in South Carolina. It provides valuable insights into the health and performance of this key 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: Real Estate (531) in South Carolina series tracks the inflation-adjusted output of the real estate industry, which includes activities such as real estate leasing, management, and related services. This metric is used by economists and policymakers to analyze the state's economic composition and growth patterns.
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 closely monitored by real estate investors, developers, and state government agencies to inform investment decisions and economic development policies.
Key Facts
- Real estate accounts for over 15% of South Carolina's GDP.
- The state's real estate GDP has grown by 4% annually over the past decade.
- Commercial real estate is the largest component of the real estate industry in South Carolina.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the real estate industry in the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and role of the real estate sector within South Carolina's economy, which is crucial for investors, policymakers, and economic analysts.
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: State government agencies and policymakers closely monitor this trend to inform economic development strategies, real estate regulations, and investment decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months, which may limit its use for real-time analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Real Estate (531) in South Carolina (SCREALRGSP), retrieved from FRED.