Real Gross Domestic Product: Insurance Carriers and Related Activities (524) in Iowa
IAINSCRARGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21,280.10
Year-over-Year Change
103.03%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) for the insurance carriers and related activities industry in Iowa. It provides valuable insights into the performance and growth of this key 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 Gross Domestic Product: Insurance Carriers and Related Activities (524) in Iowa series tracks the inflation-adjusted output of the insurance industry in the state. This metric is crucial for understanding the contribution of the insurance sector to Iowa's overall economic activity and growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and industry analysts closely monitor this trend to assess the health and competitiveness of Iowa's insurance industry and its role in the state's economic development.
Key Facts
- Iowa's insurance industry accounts for over 4% of the state's GDP.
- The insurance sector employs more than 30,000 people in Iowa.
- Real GDP for Iowa's insurance industry has grown by 20% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the insurance carriers and related activities industry 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 growth of Iowa's insurance industry, which is a significant contributor to the state's 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 using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this trend to assess the health and competitiveness of Iowa's insurance sector and its role in the state's economic development.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with a delay of several months due to the time required for data collection and processing.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Insurance Carriers and Related Activities (524) in Iowa (IAINSCRARGSP), retrieved from FRED.