Real Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Wisconsin
WIFRBCIRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,254.30
Year-over-Year Change
-22.66%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the monetary authorities, central bank, credit intermediation, and related services sector in Wisconsin. It provides insights into the economic activity and performance of this critical financial services industry within the state.
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: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Wisconsin metric tracks the inflation-adjusted output of financial institutions, including banks, credit unions, and related service providers in the state. It is a key indicator of the health and growth of Wisconsin's financial sector.
Methodology
The data is collected and calculated by the U.S. Federal Reserve using standard GDP accounting methods.
Historical Context
This trend is closely monitored by policymakers, economists, and financial analysts to assess the economic conditions and outlook for Wisconsin's financial services industry.
Key Facts
- Wisconsin's financial services sector accounts for over 5% of the state's GDP.
- This trend has shown steady growth over the past decade, reflecting the industry's resilience.
- The COVID-19 pandemic had a moderate impact on the state's financial services, with a dip in 2020 followed by a rebound.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the monetary authorities, central bank, credit intermediation, and related services sector in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the economic performance and growth of Wisconsin's financial services industry, which is a critical component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve using standard GDP accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and financial analysts closely monitor this trend to assess the economic conditions and outlook for Wisconsin's financial services industry, which informs policy decisions and market analysis.
Q: Are there update delays or limitations?
A: The data is subject to the standard release schedule and potential revisions by the Federal Reserve, but generally provides timely and reliable information on the performance of Wisconsin's financial services sector.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Wisconsin (WIFRBCIRGSP), retrieved from FRED.