Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Colorado
COFININSREALNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
118,437.80
Year-over-Year Change
115.95%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the finance, insurance, real estate, rental, and leasing industries in Colorado. It provides insights into the economic health and productivity of these key sectors.
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 GDP of the finance, insurance, real estate, rental, and leasing industries in Colorado is an important indicator of the state's economic performance. It represents the total value of goods and services produced by these sectors, offering a comprehensive view of their contribution to the overall state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level production data and national accounting principles.
Historical Context
This trend is widely used by economists, policymakers, and investors to assess the economic conditions and growth dynamics in Colorado's finance, insurance, and real estate sectors.
Key Facts
- Colorado's finance, insurance, and real estate sectors account for over 20% of the state's GDP.
- This trend has shown steady growth over the past decade, reflecting the economic importance of these industries.
- The performance of these sectors is closely watched by policymakers and investors for its impact on the broader Colorado economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the finance, insurance, real estate, rental, and leasing industries in the state of Colorado.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the economic health and productivity of key sectors in Colorado, which are crucial for understanding the state's overall economic performance and growth dynamics.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level production data and national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and investors to assess the economic conditions and growth dynamics in Colorado's finance, insurance, and real estate sectors, which are crucial for informing economic policies and investment decisions.
Q: Are there update delays or limitations?
A: The data is published with a delay of several months, but it provides a comprehensive and reliable measure of the GDP contribution of these industries in Colorado.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Colorado (COFININSREALNGSP), retrieved from FRED.