Gross Domestic Product: Real Estate and Rental and Leasing (53) in Alabama
ALRERENTLEANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38,337.70
Year-over-Year Change
21.05%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) of the real estate and rental and leasing industry in the state of Alabama. It provides insight into the performance and contribution of this sector to the overall state 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 estate and rental and leasing industry is a key component of Alabama's GDP, encompassing activities such as residential and commercial real estate, property management, and equipment and vehicle leasing. This trend helps economists and policymakers understand the dynamics and growth patterns within this important industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its GDP by state estimates.
Historical Context
This trend is widely used by analysts, investors, and policymakers to assess the health and development of Alabama's real estate and rental markets.
Key Facts
- Alabama's real estate and rental and leasing industry accounts for over 15% of the state's GDP.
- This sector has experienced steady growth in recent years, outpacing the overall state economy.
- Residential real estate is a major driver of this industry's performance in Alabama.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the real estate and rental and leasing industry in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and contribution of Alabama's real estate and rental and leasing sector, which is a crucial 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. Bureau of Economic Analysis as part of its GDP by state estimates.
Q: How is this trend used in economic policy?
A: This trend is widely used by analysts, investors, and policymakers to assess the health and development of Alabama's real estate and rental markets, which have significant implications for the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and potential revisions as the Bureau of Economic Analysis's GDP by state estimates.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Real Estate and Rental and Leasing (53) in Alabama (ALRERENTLEANQGSP), retrieved from FRED.