Real Gross Domestic Product: Real Estate (531) in Utah
UTREALRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25,714.60
Year-over-Year Change
54.04%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Real Gross Domestic Product: Real Estate (531) in Utah' series measures the economic output of the real estate sector in Utah, adjusted for inflation. This trend is a key indicator of the health and growth of the state's real estate industry.
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
This series represents the real, or inflation-adjusted, gross domestic product (GDP) generated by the real estate industry in Utah. It is a valuable metric for analyzing the performance and contributions of the real estate sector to the overall state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and economists closely monitor this trend to assess the real estate market and its influence on the broader Utah economy.
Key Facts
- Utah's real estate GDP accounts for over 15% of the state's total economic output.
- The real estate industry employs more than 100,000 people in Utah.
- Utah's real estate GDP has grown by an average of 3.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) generated by the real estate industry in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: The real estate sector is a major driver of Utah's economy, so this trend provides valuable insights into the performance and growth of this crucial industry.
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: Policymakers and economists monitor this trend to assess the real estate market and its influence on the broader Utah economy, informing policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Real Estate (531) in Utah (UTREALRGSP), retrieved from FRED.