Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Arkansas
ARRENTNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,901.20
Year-over-Year Change
87.18%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the rental and leasing services and lessors of nonfinancial intangible assets industry in Arkansas. It provides insights into the performance and contribution of this sector to the state's overall economic activity.
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 ARRENTNGSP series represents the GDP generated by businesses engaged in renting, leasing, or licensing tangible or intangible assets in Arkansas. This data is used by economists and policymakers to analyze the state's economic structure, identify growth areas, and inform policy decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its comprehensive GDP reporting for each state.
Historical Context
This economic indicator is closely monitored by industry stakeholders, investors, and government agencies to understand the health and dynamics of Arkansas's rental and leasing services sector.
Key Facts
- Arkansas's rental and leasing services GDP was $2.7 billion in 2020.
- This sector accounts for 1.7% of Arkansas's total GDP.
- The rental and leasing services industry in Arkansas has grown by 4.2% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the rental and leasing services and lessors of nonfinancial intangible assets industry in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and contribution of the rental and leasing services sector to Arkansas's overall economic activity, which is useful for industry stakeholders, investors, and policymakers.
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 comprehensive GDP reporting for each state.
Q: How is this trend used in economic policy?
A: This economic indicator is closely monitored by government agencies and policymakers to understand the health and dynamics of Arkansas's rental and leasing services sector, which can inform policy decisions and investments.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and potential revisions of the U.S. Bureau of Economic Analysis, which may result in occasional update delays or minor changes to historical figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Arkansas (ARRENTNGSP), retrieved from FRED.