Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in Pennsylvania
PARERENTLEAQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
109.09
Year-over-Year Change
9.61%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in Pennsylvania measures the real output of the real estate, rental, and leasing industry in the state. This trend is a key indicator of economic activity and growth in Pennsylvania's service sector.
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 index tracks the volume of goods and services produced by the real estate, rental, and leasing industry in Pennsylvania, adjusted for inflation. It is a valuable metric for economists and policymakers to assess the performance and contribution of this important sector to the state's overall economic output.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
This index is used by analysts and policymakers to monitor the health and trends in Pennsylvania's real estate and rental markets, which have significant implications for the broader state economy.
Key Facts
- The index has a base year of 2012.
- Pennsylvania's real estate and rental sector accounts for over 10% of the state's GDP.
- The index has shown steady growth since the Great Recession.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real output, or inflation-adjusted production, of the real estate, rental, and leasing industry in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of activity and growth in Pennsylvania's service sector, which is a significant contributor to the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: This index is used by analysts and policymakers to monitor the health and trends in Pennsylvania's real estate and rental markets, which have significant implications for the broader state economy.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in Pennsylvania (PARERENTLEAQGSP), retrieved from FRED.