Gross Domestic Product: Finance and Insurance (52) in Hawaii
Annual, Not Seasonally Adjusted
HIFININSNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,615.60
Year-over-Year Change
82.73%
Date Range
1/1/1997 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted trend measures the total value of financial services provided to consumers, including banking, insurance, and investment activities. This metric is a key indicator of consumer demand and overall economic health.
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 represents the total nominal dollar value of financial services consumed by U.S. households on an annual basis, without adjusting for seasonal variations. It provides insight into the size and growth of the financial services industry and consumer financial activity.
Methodology
The data is collected and compiled by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Historical Context
Policymakers and analysts use this metric to gauge consumer financial trends and inform decisions around monetary policy and financial sector regulation.
Key Facts
- Financial services account for over 8% of U.S. GDP.
- The financial services industry employs over 6 million Americans.
- Household spending on financial services has grown by 30% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total nominal value of financial services consumed by U.S. households on an annual basis, including banking, insurance, and investment activities.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer demand for financial services and the overall size and growth of the financial sector, which is a key driver of economic activity.
Q: How is this data collected or calculated?
A: The data is collected and compiled by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge consumer financial trends and inform decisions around monetary policy and financial sector regulation.
Q: Are there update delays or limitations?
A: The data is released annually with a several-month lag, and does not adjust for seasonal variations in financial services consumption.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (HIFININSNGSP), retrieved from FRED.