Gross Domestic Product: Finance and Insurance (52) in Illinois
ILFININSNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
92,633.50
Year-over-Year Change
14.09%
Date Range
1/1/2005 - 1/1/2025
Summary
The 'Gross Domestic Product: Finance and Insurance (52) in Illinois' trend measures the economic output of the finance and insurance sector in Illinois. This metric is important for analyzing the state's economic composition and growth.
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
This series represents the gross domestic product (GDP) originating in the finance and insurance (NAICS sector 52) industry for the state of Illinois. It provides insights into the relative size and contribution of this sector to the overall state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national and state-level economic accounts.
Historical Context
Policymakers and economists use this trend to assess the health and competitiveness of Illinois' finance and insurance industry.
Key Facts
- Illinois' finance and insurance sector accounts for over 7% of its total GDP.
- This industry has experienced steady growth in Illinois over the past decade.
- The finance and insurance sector is a major employer and contributor to the state's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) originating in the finance and insurance industry for the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the size, performance, and contribution of the finance and insurance sector to Illinois' overall economy, which is valuable for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national and state-level economic accounts.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the health and competitiveness of Illinois' finance and insurance industry, which is a crucial part of the state's economy.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and revisions by the Bureau of Economic Analysis, so there may be some delays in the availability of the most recent figures.
Related Trends
All Employees: Professional and Business Services: Waste Management and Remediation Services in Illinois
SMU17000006056200001
All Employees: Wholesale Trade: Wholesale Trade Agents and Brokers in Illinois
SMU17000004142500001
Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Illinois
ILADMINWASTRGSP
Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Furnishings and Durable Household Equipment for Illinois
ILPCEPCFUR
All Employees: Drinking Places (Alcoholic Beverages) in Illinois
SMU17000007072240001A
Chain-Type Quantity Index for Real GDP: Farms (111-112) in Illinois
ILFARMQGSP
Citation
U.S. Federal Reserve, Gross Domestic Product: Finance and Insurance (52) in Illinois (ILFININSNQGSP), retrieved from FRED.