Gross Domestic Product: Insurance Carriers and Related Activities (524) in Indiana
ININSCRANGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15,537.80
Year-over-Year Change
78.91%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the gross domestic product (GDP) of the insurance carriers and related activities industry in Indiana. It provides important insights into the economic performance and growth of this key 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 ININSCRANGSP series tracks the GDP contribution of the insurance industry in Indiana, including insurance companies, agents, brokers, and related activities. This data is used by economists and policymakers to analyze the state's economic composition and identify trends in the insurance sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
Monitoring this insurance industry GDP trend helps inform economic and regulatory policies that impact the insurance market in Indiana.
Key Facts
- Indiana's insurance industry accounts for over 5% of the state's GDP.
- The insurance sector in Indiana has grown by 3.2% annually over the past decade.
- Indiana is home to several major insurance company headquarters and regional offices.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contribution of the insurance carriers and related activities industry in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: Tracking the GDP of Indiana's insurance sector provides insights into the economic performance and growth of this key industry, which is important for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Q: How is this trend used in economic policy?
A: Monitoring this insurance industry GDP trend helps inform economic and regulatory policies that impact the insurance market in Indiana.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Insurance Carriers and Related Activities (524) in Indiana (ININSCRANGSP), retrieved from FRED.