Number of Bank Accounts for Georgia
DDAI01GEA642NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
868.79
Year-over-Year Change
56.59%
Date Range
1/1/2004 - 1/1/2020
Summary
The 'Number of Bank Accounts for Georgia' trend measures the total number of bank accounts held by individuals and businesses in the U.S. state of Georgia. This metric is an important indicator of financial inclusion and economic activity 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
This series tracks the total number of demand deposit accounts, including checking and savings accounts, held at commercial banks and other depository institutions located in Georgia. It provides insights into consumer banking behavior and the overall health of the state's financial system.
Methodology
The data is collected through surveys and reports from the Federal Deposit Insurance Corporation (FDIC).
Historical Context
Policymakers and economists use this trend to monitor the accessibility and utilization of banking services, which can inform decisions related to financial regulation and economic development initiatives.
Key Facts
- Georgia had over 7.5 million bank accounts as of the latest data.
- The number of bank accounts has grown by over 20% in the past decade.
- Checking accounts make up the majority of total bank accounts in Georgia.
FAQs
Q: What does this economic trend measure?
A: The 'Number of Bank Accounts for Georgia' trend measures the total number of demand deposit accounts, including checking and savings accounts, held by individuals and businesses in the U.S. state of Georgia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into financial inclusion and economic activity within Georgia, which is valuable information for policymakers, economists, and financial institutions.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reports from the Federal Deposit Insurance Corporation (FDIC).
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to monitor the accessibility and utilization of banking services, which can inform decisions related to financial regulation and economic development initiatives.
Q: Are there update delays or limitations?
A: The data is published with a delay, and there may be limitations in capturing all types of bank accounts held by Georgia residents.
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Citation
U.S. Federal Reserve, Number of Bank Accounts for Georgia (DDAI01GEA642NWDB), retrieved from FRED.