Real Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Florida
FLFRBCIRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17,081.30
Year-over-Year Change
-19.62%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the real gross domestic product (GDP) of the monetary authorities, credit intermediation, and related services sector in the state of Florida. It provides insights into the economic performance and growth of this key industry 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
The Real Gross Domestic Product (GDP) series for Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (NAICS 521-522) in Florida offers a detailed view of economic activity in this important sector. It is used by economists, policymakers, and analysts to understand trends and dynamics within the state's financial services industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methodologies.
Historical Context
This economic trend is relevant for understanding the health and competitiveness of Florida's financial services sector, which has implications for the broader state economy and policy decisions.
Key Facts
- Florida's financial services sector accounts for over 6% of the state's GDP.
- The industry has experienced steady growth over the past decade.
- Credit intermediation and related services make up the largest component of this sector.
FAQs
Q: What does this economic trend measure?
A: This series measures the real gross domestic product (GDP) of the monetary authorities, credit intermediation, and related services sector in the state of Florida.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and growth of Florida's critical financial services industry, which has important implications for the state's overall economic health and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methodologies.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and analysts to understand the dynamics and competitiveness of Florida's financial services sector, which informs economic development strategies and regulatory policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Florida (FLFRBCIRGSP), retrieved from FRED.