Real Gross Domestic Product: Real Estate (531) in Connecticut
CTREALRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34,758.90
Year-over-Year Change
5.25%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Real Gross Domestic Product: Real Estate (531) in Connecticut' metric measures the inflation-adjusted value of economic output from the real estate sector in the state of Connecticut. This data point is important for economists and policymakers to gauge the health and growth of the state's real estate 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
This series tracks the real (inflation-adjusted) gross domestic product originating from the real estate and rental and leasing industry in Connecticut. It provides a measure of the overall economic contribution and performance of this key sector within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
Trends in this metric are closely watched by real estate investors, developers, and state economic policymakers.
Key Facts
- Connecticut's real estate GDP was $38.3 billion in 2021.
- This sector accounts for over 20% of Connecticut's total economic output.
- Real estate GDP in Connecticut has grown by 3.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real (inflation-adjusted) gross domestic product originating from the real estate and rental and leasing industry in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: Trends in Connecticut's real estate GDP are closely watched by investors, developers, and policymakers to gauge the health and growth of this key sector 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 as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: State-level real estate GDP data is used by Connecticut policymakers to inform economic development strategies and housing policies.
Q: Are there update delays or limitations?
A: This data is published annually with a lag of several months, so it may not reflect the most current economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Real Estate (531) in Connecticut (CTREALRGSP), retrieved from FRED.