Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in Utah
UTRERENTLEARGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31,720.00
Year-over-Year Change
74.81%
Date Range
1/1/1997 - 1/1/2024
Summary
This series measures the real gross domestic product (GDP) for the real estate and rental and leasing industry in Utah. It is a key indicator of economic activity and investment in the state's property and housing sectors.
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
Real GDP for the real estate and rental and leasing industry represents the inflation-adjusted value of goods and services produced by this sector in Utah. It is used by economists and policymakers to assess trends in the state's property markets and overall economic performance.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric informs analysis of Utah's real estate and rental markets, as well as broader economic conditions and policy decisions.
Key Facts
- Utah's real estate and rental/leasing GDP was $25.7 billion in 2021.
- This sector accounts for over 15% of Utah's total economic output.
- Real estate GDP in Utah has grown by 4.2% annually since 2015.
FAQs
Q: What does this economic trend measure?
A: This series measures the real (inflation-adjusted) gross domestic product of the real estate and rental and leasing industry in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into activity and investment in Utah's property and housing markets, which are key drivers of the state's overall economic performance.
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: Analysts and policymakers use this metric to monitor conditions in Utah's real estate and rental markets, which informs broader economic and policy decisions.
Q: Are there update delays or limitations?
A: This data is published with a lag of several quarters, so it may not reflect the most current economic conditions in Utah.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in Utah (UTRERENTLEARGSP), retrieved from FRED.