Taxes on production and imports: State government: Sales taxes: Insurance receipts
L305181A027NBEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22.86
Year-over-Year Change
57.49%
Date Range
1/1/1958 - 1/1/2016
Summary
This economic trend measures state government sales taxes on insurance receipts, a key indicator of consumer spending and economic activity.
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 'Taxes on production and imports: State government: Sales taxes: Insurance receipts' series tracks the total value of sales taxes collected by state governments on insurance products and services. This provides insight into consumer demand and the overall health of the insurance industry.
Methodology
The data is collected and reported by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is closely monitored by policymakers and analysts to assess the strength of the insurance market and broader economic conditions.
Key Facts
- Sales taxes on insurance account for over $100 billion in state government revenue annually.
- Insurance sales are a leading indicator of consumer confidence and discretionary spending.
- This metric is closely tracked by economists to monitor the health of the insurance industry.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of sales taxes collected by state governments on insurance products and services.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer demand and the overall health of the insurance industry, which is a key indicator of broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor this metric to assess the strength of the insurance market and make informed decisions about economic policy.
Q: Are there update delays or limitations?
A: The data is published on a regular schedule by the Bureau of Economic Analysis, with minimal delays.
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Citation
U.S. Bureau of Economic Analysis, Taxes on production and imports: State government: Sales taxes: Insurance receipts (L305181A027NBEA), retrieved from FRED.