Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Wisconsin
WIRENTNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,669.90
Year-over-Year Change
53.61%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) contribution of the rental and leasing services and lessors of nonfinancial intangible assets (NAICS sectors 532-533) in the state of Wisconsin. It is an important indicator of economic activity and business investment in a key service 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
The WIRENTNGSP series tracks the GDP originating from Wisconsin's rental and leasing services, as well as firms that own and lease intangible assets like patents and trademarks. This data provides insights into the relative importance of these sectors to the state's overall economic output.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their state-level GDP by industry statistics.
Historical Context
Economists and policymakers use this metric to assess the health and competitiveness of Wisconsin's service sector and broader economy.
Key Facts
- Wisconsin's rental and leasing GDP was $7.7 billion in 2021.
- This sector accounts for 2.3% of the state's total economic output.
- The industry has grown by 23% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) originating from the rental and leasing services and lessors of intangible assets (NAICS 532-533) sectors in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the size and performance of an important service industry within Wisconsin's economy, which is useful for economic analysis and policymaking.
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 state-level GDP by industry statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to assess the health and competitiveness of Wisconsin's service sector and broader economy, which can inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is published with a lag of several quarters, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Wisconsin (WIRENTNGSP), retrieved from FRED.