Real Gross Domestic Product: Finance and Insurance (52) in Connecticut
CTFININSRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38,474.30
Year-over-Year Change
-6.55%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the finance and insurance sector in the state of Connecticut. It is an important indicator of the state's economic performance and competitiveness within this key industry.
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 and Insurance (52) in Connecticut series tracks the inflation-adjusted economic output of the finance and insurance industry, one of the largest and most influential sectors in the state's economy. This metric is used by economists and policymakers to analyze the state's economic composition and growth patterns.
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 closely monitored by state and local governments, as well as financial market participants, to assess Connecticut's economic conditions and competitiveness.
Key Facts
- Connecticut's finance and insurance sector accounts for over 15% of the state's total GDP.
- This industry has experienced steady growth in recent years, outpacing the state's overall economic expansion.
- The finance and insurance sector is a major employer in Connecticut, providing high-wage jobs to over 100,000 workers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the finance and insurance industry in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of the performance and competitiveness of Connecticut's finance and insurance sector, which is a crucial part of the state'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: State and local governments, as well as financial market participants, closely monitor this trend to assess Connecticut's economic conditions and competitiveness.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Finance and Insurance (52) in Connecticut (CTFININSRGSP), retrieved from FRED.