Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Colorado
CORENTNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,372.80
Year-over-Year Change
37.63%
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 Colorado. It provides valuable 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 Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Colorado metric tracks the total value of goods and services produced by this industry within the state. It is a key indicator of the industry's economic health and growth, which can inform policymakers and analysts about trends in the local business environment.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of its regional GDP estimates.
Historical Context
This trend is relevant for understanding the economic conditions and growth drivers in Colorado's rental and leasing services sector, which has implications for investment, employment, and policy decisions.
Key Facts
- Colorado's rental and leasing services industry contributed $9.8 billion to the state's GDP in 2020.
- This sector has grown by an average of 3.2% annually over the past 5 years.
- The rental and leasing services industry accounts for 2.4% of Colorado's total economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the rental and leasing services and lessors of nonfinancial intangible assets industry in the state of Colorado.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and contribution of Colorado's rental and leasing services sector to the state's overall economic activity, which is valuable information for policymakers, investors, 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 (BEA) as part of its regional GDP estimates.
Q: How is this trend used in economic policy?
A: This trend can inform policymakers and analysts about trends in Colorado's local business environment, which can have implications for investment, employment, and policy decisions related to the rental and leasing services industry.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Bureau of Economic Analysis, Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Colorado (CORENTNGSP), retrieved from FRED.