Gross Domestic Product: Insurance Carriers and Related Activities (524) in Iowa
IAINSCRANGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24,264.10
Year-over-Year Change
143.89%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of insurance carriers and related activities in the state of Iowa. It provides insight into the performance and contribution of this key industry sector to the state's overall economic output.
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 GDP of insurance carriers and related activities in Iowa reflects the total market value of goods and services produced by this industry group within the state. It is an important indicator of the economic health and growth of this sector, which plays a vital role in Iowa's financial services ecosystem.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is used by economists, policymakers, and industry analysts to assess the economic performance and competitiveness of Iowa's insurance industry.
Key Facts
- Iowa's insurance industry accounts for over 4% of the state's GDP.
- The insurance sector has experienced steady growth in Iowa over the past decade.
- Iowa ranks among the top states for insurance industry employment and economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the insurance carriers and related activities industry sector in the state of Iowa.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and contribution of Iowa's insurance industry, which is a critical component of the state's financial services ecosystem and overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and industry analysts use this trend to assess the competitiveness and growth of Iowa's insurance sector, which informs economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several quarters, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Insurance Carriers and Related Activities (524) in Iowa (IAINSCRANGSP), retrieved from FRED.