Real Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Utah
UTRENTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,976.60
Year-over-Year Change
343.03%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) for the rental and leasing services and lessors of nonfinancial intangible assets industry in Utah. It provides insights into the performance and growth of this 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: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Utah trend represents the inflation-adjusted value added by this industry to the state's overall economic output. It is a key indicator for analyzing the health and dynamics of Utah's service-producing industries.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Historical Context
This trend is used by economists, policymakers, and market analysts to assess the contribution and performance of Utah's rental and leasing services sector within the broader state economy.
Key Facts
- Utah's rental and leasing services sector accounts for approximately 2% of the state's total GDP.
- This industry has experienced steady growth in recent years, outpacing the overall state economy.
- The trend data is adjusted for inflation to provide a real, volume-based measure of economic activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the rental and leasing services and lessors of nonfinancial intangible assets industry in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and growth of Utah's rental and leasing services sector, which is an important component of the state's overall economic activity and service-producing industries.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and market analysts use this trend to assess the contribution and performance of Utah's rental and leasing services sector within the broader state economy, which can inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and revision process of the U.S. Bureau of Economic Analysis, which may result in occasional update delays or revisions to historical figures.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Utah (UTRENTRGSP), retrieved from FRED.