Real Gross Domestic Product: Finance and Insurance (52) in Virginia
Annual, Not Seasonally Adjusted
VAFININSRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32,071.20
Year-over-Year Change
15.40%
Date Range
1/1/1997 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted trend measures the gross output of the U.S. finance and insurance sector. It is a key indicator of the health and productivity of the financial 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 metric represents the total value added by the finance and insurance industries to the U.S. gross domestic product (GDP). It provides insight into the sector's contribution to overall economic growth and activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of the national income and product accounts (NIPA).
Historical Context
Policymakers and market analysts closely monitor this trend to assess the performance and outlook of the finance and insurance industries.
Key Facts
- The finance and insurance sector accounts for over 7% of U.S. GDP.
- This trend has shown steady growth over the past decade.
- Volatile periods in this metric can signal broader economic shifts.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross output, or value added, of the U.S. finance and insurance sector to the overall economy.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the health and productivity of a critical industry that plays a central role in economic growth and stability.
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 the national income and product accounts.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts monitor this trend to assess the performance and outlook of the finance and insurance industries, which have broad implications for the overall economy.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis with a lag of several months.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (VAFININSRGSP), retrieved from FRED.