Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Idaho
IDFININSREALNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25,549.90
Year-over-Year Change
149.89%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) contribution of the finance, insurance, real estate, rental, and leasing industries in the state of Idaho. It provides insights into the importance of these sectors to 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 IDFININSREALNGSP series tracks the GDP generated by Idaho's finance, insurance, real estate, rental, and leasing industries. This data is used by economists and policymakers to analyze the structure and performance of the state's economy, and to inform economic development strategies.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its state-level GDP estimates.
Historical Context
This trend is relevant for understanding the relative importance of various industries in Idaho's economy and how they contribute to overall economic growth.
Key Facts
- Idaho's finance, insurance, real estate, rental, and leasing industries contributed $16.4 billion to the state's GDP in 2021.
- This sector accounted for 21.7% of Idaho's total GDP in 2021.
- GDP in this sector grew by 6.3% in Idaho between 2020 and 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contribution of the finance, insurance, real estate, rental, and leasing industries in the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the importance of these key economic sectors to Idaho's overall economy, which is valuable information for economists, policymakers, and businesses.
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 its state-level GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the structure and performance of Idaho's economy, and to inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically several months after the end of the reference period. There may also be revisions to historical data as more information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Idaho (IDFININSREALNGSP), retrieved from FRED.