Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Colorado
COFININSQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
110.99
Year-over-Year Change
14.52%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Colorado measures the real output of the finance and insurance sector in the state's economy. This metric is crucial for understanding economic growth and productivity in the state's key industries.
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 Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Colorado tracks the real, inflation-adjusted output of the finance and insurance industry within the state's broader economic output. This index is used by economists and policymakers to analyze the performance and contribution of the finance and insurance sector to Colorado's overall economic growth.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using deflated industry-level GDP statistics.
Historical Context
This economic trend is valuable for assessing the health and competitiveness of Colorado's finance and insurance sector, which is a major driver of the state's economic activity.
Key Facts
- Colorado's finance and insurance sector accounts for over 8% of the state's GDP.
- The industry has grown by an average of 3.2% annually over the past 10 years.
- The sector employs over 130,000 people in Colorado.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Colorado measures the real, inflation-adjusted output of the finance and insurance industry within the state's overall economic production.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding the performance and contribution of Colorado's finance and insurance sector, a key driver of the state's economic growth and competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using deflated industry-level GDP statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this index to assess the health and productivity of Colorado's finance and insurance industry, which informs decisions around economic development, regulation, and investment.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Colorado (COFININSQGSP), retrieved from FRED.