Real Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Hawaii
HIRENTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,903.30
Year-over-Year Change
75.94%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the rental and leasing services and lessors of nonfinancial intangible assets industry in Hawaii. It provides insights into the performance and growth of this important service sector within the state's economy.
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 GDP for rental and leasing services and lessors of nonfinancial intangible assets (NAICS 532-533) in Hawaii is a key indicator of economic activity and productivity in this industry. It is used by economists and policymakers to analyze the overall health and trends within this segment of Hawaii's service economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP estimates for states and regions.
Historical Context
This economic trend is relevant for understanding the dynamics of Hawaii's service sector and its contribution to the state's overall economic performance.
Key Facts
- Hawaii's rental and leasing services industry accounts for over 3% of the state's total GDP.
- This sector has experienced steady growth in recent years, outpacing the overall state economy.
- The real GDP for this industry provides insights into the performance of Hawaii's tourism and hospitality sectors.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the rental and leasing services and lessors of nonfinancial intangible assets industry in Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and growth of an important service sector within Hawaii's economy, which is crucial for understanding the state's overall economic dynamics.
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 comprehensive GDP estimates for states and regions.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the health and trends within Hawaii's service sector, which is crucial for informing economic policies and decision-making.
Q: Are there update delays or limitations?
A: There may be occasional delays in the data updates, as the Bureau of Economic Analysis compiles and releases the comprehensive state-level GDP estimates on a regular schedule.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Hawaii (HIRENTRGSP), retrieved from FRED.