Real Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Arkansas
ARFRBCIRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,037.70
Year-over-Year Change
-8.20%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) generated by the monetary authorities, credit intermediation, and related services sector in Arkansas. It provides insight into the performance and contribution of this critical financial services industry within 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 Real Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Arkansas series tracks the inflation-adjusted economic output of this sector, which includes banks, credit unions, and other financial institutions. It is an important indicator for understanding the state's financial services landscape and its role in driving overall economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This trend is closely monitored by policymakers, regulators, and market analysts to assess the financial health and competitiveness of Arkansas's economy.
Key Facts
- Arkansas's financial services sector accounts for over 6% of the state's total GDP.
- This industry has experienced steady growth, outpacing the overall state economy in recent years.
- The sector's performance is closely tied to broader economic conditions and consumer financial activities.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) generated by the monetary authorities, credit intermediation, and related financial services sector in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and contribution of Arkansas's financial services industry, which is a critical component of the state's overall economic ecosystem.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers, regulators, and market analysts closely monitor this trend to assess the financial health and competitiveness of Arkansas's economy.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and potential revisions as other Bureau of Economic Analysis GDP estimates.
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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 Arkansas (ARFRBCIRGSP), retrieved from FRED.