Gross Domestic Product: Finance and Insurance (52) in Utah
UTFININSNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26,815.20
Year-over-Year Change
21.91%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the gross domestic product (GDP) of the finance and insurance sector in the state of Utah. It is an important indicator for understanding the role of this industry in 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 Gross Domestic Product: Finance and Insurance (52) in Utah trend represents the total economic output of the finance and insurance sector within the state. This metric is used by economists and policymakers to analyze the relative importance and performance of this key industry in Utah's overall economic landscape.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their regional GDP estimates.
Historical Context
This trend provides insights that can inform economic development strategies and regulatory policies in Utah.
Key Facts
- Utah's finance and insurance sector accounts for over 7% of the state's total GDP.
- This industry has experienced steady growth in Utah over the past decade.
- The finance and insurance sector is a major employer in the state, accounting for over 60,000 jobs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the finance and insurance sector in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and relative importance of Utah's finance and insurance industry, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: This trend can inform economic development strategies and regulatory policies in Utah, as it provides insights into the finance and insurance sector's contribution to the state's overall economic activity.
Q: Are there update delays or limitations?
A: The data for this trend is typically published on a quarterly basis, with some potential for minor delays in the release of the information.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Finance and Insurance (52) in Utah (UTFININSNQGSP), retrieved from FRED.