Real Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Colorado
COFININSREALRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
91,388.80
Year-over-Year Change
42.06%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the real gross domestic product (GDP) of the finance, insurance, real estate, rental, and leasing sectors in Colorado. It provides insight into the economic activity and growth of these critical industries within the state.
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: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Colorado metric tracks the inflation-adjusted economic output of these key service sectors. It is an important indicator of the overall health and competitiveness of Colorado's economy.
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 widely used by policymakers, analysts, and businesses to assess the economic conditions and development in Colorado.
Key Facts
- Colorado's finance, insurance, real estate, rental, and leasing sectors account for over 20% of the state's GDP.
- This trend has grown by an average of 3.2% annually over the past decade.
- The COVID-19 pandemic caused a 4.1% decline in this sector's real GDP in 2020.
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 sectors in the state of Colorado.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the health and growth of key service industries that are critical to Colorado'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 established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers, analysts, and businesses use this trend to assess economic conditions and development in Colorado.
Q: Are there update delays or limitations?
A: The data is subject to revision and may have a 1-2 quarter update delay.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Colorado (COFININSREALRGSP), retrieved from FRED.