Real Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Arkansas
ARRENTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,595.50
Year-over-Year Change
57.66%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures real gross domestic product (GDP) for 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 Real Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Arkansas metric tracks the inflation-adjusted output of this industry, which includes businesses that rent, lease, or license tangible or intangible assets. This data is a key indicator for policymakers and analysts to assess the health and growth of this economic segment.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is used by economists, policymakers, and businesses to evaluate the rental and leasing industry's role in Arkansas' economic landscape and its impact on overall state GDP.
Key Facts
- Arkansas' rental and leasing services industry accounts for approximately 2% of the state's total GDP.
- This sector has experienced steady growth over the past decade, outpacing the overall state economy.
- The rental and leasing industry is a key component of Arkansas' services-oriented economic structure.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of 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 important insights into the performance and contribution of the rental and leasing industry to Arkansas' overall economic activity, which is relevant for policymakers, businesses, and economic analysts.
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 accounting principles.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and businesses to evaluate the rental and leasing industry's role in Arkansas' economic landscape and its impact on overall state GDP, informing policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and potential revisions as other GDP-related metrics published by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Arkansas (ARRENTRGSP), retrieved from FRED.