Gross Domestic Product: Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523) in Utah
UTSECCOMINVNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,440.90
Year-over-Year Change
117.72%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the securities, commodity contracts, and other financial investments and related activities (NAICS code 523) industry in the state of Utah. It provides insight into the performance and contribution of this key financial sector to the state's overall economic activity.
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 UTSECCOMINVNGSP series represents the inflation-adjusted GDP for the securities, commodity contracts, and other financial investments and related activities industry in Utah. This metric is used by economists and policymakers to analyze the financial industry's role and growth within the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their GDP by state and industry program.
Historical Context
This trend is relevant for understanding the financial services industry's impact on Utah's economic landscape and can inform policy decisions related to the state's economic development.
Key Facts
- Utah's securities and investments industry accounted for over $10 billion in GDP in 2020.
- The financial activities sector represents approximately 8% of Utah's total economic output.
- GDP in this industry has grown by over 50% in Utah since 2010.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the securities, commodity contracts, and other financial investments and related activities industry in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and contribution of Utah's financial services sector to the state's overall economic activity, which is important for economic analysis and policy decisions.
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 their GDP by state and industry program.
Q: How is this trend used in economic policy?
A: This trend can inform policy decisions related to the state's economic development and the financial services industry's role in Utah's economy.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically several months after the end of the reference period.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523) in Utah (UTSECCOMINVNGSP), retrieved from FRED.