Real Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Colorado
CORENTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,508.80
Year-over-Year Change
15.91%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) for the rental and leasing services and lessors of nonfinancial intangible assets industry in Colorado. It provides insight into the economic performance of this important service sector.
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 GDP for rental and leasing services and lessors of nonfinancial intangible assets (NAICS codes 532-533) in Colorado is a key indicator of the state's economic activity in this industry. It tracks the inflation-adjusted value added by this sector to the overall state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
This trend is widely used by economists and policymakers to analyze the health and growth of Colorado's service-based economy.
Key Facts
- Colorado's rental and leasing services industry accounts for over 2% of the state's total GDP.
- This sector has grown at an average annual rate of 3.2% over the past decade.
- The COVID-19 pandemic led to a 5.8% decline in real GDP for this industry in Colorado in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for 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 insight into the economic performance of an important service sector in Colorado, which is useful for understanding the state's overall economic conditions and growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists and policymakers to analyze the health and growth of Colorado's service-based economy, which can inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released 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, Real Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Colorado (CORENTRGSP), retrieved from FRED.