Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in Utah
UTRERENTLEAQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
139.93
Year-over-Year Change
74.81%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in Utah measures the real economic output of the real estate and rental and leasing sector in the state. This metric is important for understanding the health and growth of Utah'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
This index tracks the volume of goods and services produced by real estate and rental and leasing companies in Utah, adjusted for inflation. It provides a detailed view of a key economic sector and can signal shifts in consumer and business demand for these services.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and analysts use this index to assess the performance and trajectory of Utah's real estate and rental markets.
Key Facts
- The index is based on 2012 as the reference year.
- Utah's real estate and rental/leasing sector accounts for over 15% of the state's GDP.
- The index reached a high of 117.7 in 2019 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output, adjusted for inflation, of the real estate and rental and leasing sector in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the health and growth of a key component of Utah's economy, which can inform business and policy decisions.
Q: How is this data collected or calculated?
A: The data is 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 analysts use this index to assess the performance and trajectory of Utah's real estate and rental markets, which can inform economic and regulatory decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in Utah (UTRERENTLEAQGSP), retrieved from FRED.