Real Gross Domestic Product: Finance and Insurance (52) in Idaho
IDFININSRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,169.30
Year-over-Year Change
40.51%
Date Range
1/1/1997 - 1/1/2024
Summary
This series measures the real gross domestic product (GDP) of the finance and insurance industry in the state of Idaho. It is a key indicator of economic activity and productivity in this important sector.
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 of the finance and insurance industry in Idaho represents the total inflation-adjusted value of goods and services produced by this sector. It is a widely tracked metric used by economists and policymakers to assess the health and growth of this critical component of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks.
Historical Context
Trends in Idaho's finance and insurance GDP are closely monitored for insights into the state's broader economic conditions and market competitiveness.
Key Facts
- Idaho's finance and insurance GDP was $7.6 billion in 2021.
- This sector accounts for 7.2% of the state's total economic output.
- Real GDP in Idaho's finance and insurance industry grew by 4.2% in 2021.
FAQs
Q: What does this economic trend measure?
A: This series measures the real gross domestic product (GDP) of the finance and insurance industry in the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: Trends in Idaho's finance and insurance GDP provide valuable insights into the health and growth of this critical sector of the state's economy.
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 frameworks.
Q: How is this trend used in economic policy?
A: Movements in Idaho's finance and insurance GDP are closely monitored by policymakers and economists to assess the state's broader economic conditions and market competitiveness.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Finance and Insurance (52) in Idaho (IDFININSRGSP), retrieved from FRED.