Real Gross Domestic Product: Insurance Carriers and Related Activities (524) in Arkansas
ARINSCRARGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,883.20
Year-over-Year Change
55.29%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the insurance carriers and related activities industry in Arkansas. It provides insights into the productivity and economic performance of this crucial 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
The Real Gross Domestic Product: Insurance Carriers and Related Activities (524) in Arkansas series tracks the inflation-adjusted value added by the insurance industry to the state's overall economic output. It is an important indicator for analyzing the health and contribution of the insurance sector to Arkansas's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP accounting methods.
Historical Context
This trend is relevant for policymakers, industry analysts, and investors evaluating the economic conditions and growth prospects of Arkansas's insurance industry.
Key Facts
- Arkansas's insurance industry accounts for over 3% of the state's total GDP.
- The insurance sector has seen steady growth in Arkansas over the past decade.
- This metric helps track the productivity and competitiveness of Arkansas's insurance providers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the insurance carriers and related activities industry in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the economic performance and contribution of Arkansas's insurance sector, which is a crucial part 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 using standard industry-level GDP accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers, industry analysts, and investors can use this trend to evaluate the health and growth prospects of Arkansas's insurance industry, which informs economic development strategies and investment decisions.
Q: Are there update delays or limitations?
A: This data is published by the Federal Reserve with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Insurance Carriers and Related Activities (524) in Arkansas (ARINSCRARGSP), retrieved from FRED.