Real Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Wisconsin
WIFININSREALRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
68,344.00
Year-over-Year Change
7.89%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the finance, insurance, real estate, rental, and leasing sectors in Wisconsin. It provides insights into the performance and growth of these crucial industries 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: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Wisconsin metric tracks the inflation-adjusted economic output of these related industries, which are significant contributors to the state's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national income and product accounting methods.
Historical Context
This trend is widely used by economists, policymakers, and industry analysts to assess the health and dynamics of Wisconsin's financial, real estate, and service-based sectors.
Key Facts
- Wisconsin's finance, insurance, and real estate sectors account for over 20% of the state's total GDP.
- This trend has shown steady growth over the past decade, outpacing the overall state economy.
- The COVID-19 pandemic temporarily disrupted this sector, but it has since rebounded to pre-pandemic levels.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the finance, insurance, real estate, rental, and leasing sectors in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and growth of Wisconsin's crucial service-based industries, which are significant contributors to the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and industry analysts use this trend to assess the health and dynamics of Wisconsin's financial, real estate, and service-based sectors, which inform economic and policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and it may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Wisconsin (WIFININSREALRGSP), retrieved from FRED.