Real Gross Domestic Product: Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523) in South Carolina
SCSECCOMINVRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,025.40
Year-over-Year Change
38.96%
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 (NAICS 523) industry in South Carolina. It provides insight into the performance and contribution of this key financial services sector to the state's overall economic growth.
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 South Carolina series tracks the inflation-adjusted output of this industry in the state. It is a valuable indicator of the financial services industry's economic health and its role in driving South Carolina's broader economic development.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric is closely monitored by policymakers, analysts, and industry participants to assess the financial services sector's contribution to the state's economic performance and guide relevant policy decisions.
Key Facts
- South Carolina's financial services industry accounts for over 6% of the state's total GDP.
- The real GDP of the financial investments sector in South Carolina grew by 3.2% in 2021.
- Financial services are a key driver of economic activity in major South Carolina cities like Charleston and Greenville.
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 (NAICS 523) 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 contribution of the financial services sector to South Carolina's overall economic growth, which is crucial for policymakers, industry participants, 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: This metric is closely monitored by policymakers, analysts, and industry participants to assess the financial services sector's contribution to South Carolina's economic performance and guide relevant policy decisions.
Q: Are there update delays or limitations?
A: There may be occasional delays in data updates, and the metric may not capture the full breadth of financial activities in the state.
Related Trends
Gross Domestic Product: All Industry Total in South Carolina
SCNGSP
Chain-Type Quantity Index for Real GDP: Federal Civilian in South Carolina
SCGOVFEDCIVQGSP
Coefficient for Industrial Carbon Dioxide Emissions, Asphalt and Road Oil for South Carolina
EMISSCO2CARICBSCA
All Employees: Total Nonfarm in South Carolina
SCNAN
Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in South Carolina
SCCHEMMANQGSP
Dividends, Interest and Rent in South Carolina
SCODIV
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523) in South Carolina (SCSECCOMINVRGSP), retrieved from FRED.