Real Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Maryland
MDFININSREALRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
82,456.40
Year-over-Year Change
4.91%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the real gross domestic product (GDP) of the finance, insurance, real estate, rental, and leasing sectors in the state of Maryland. It provides insights into the economic performance and growth of these key industries within the state.
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 Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Maryland trend represents the inflation-adjusted value added by these sectors to the state's overall economic output. It is an important indicator for policymakers and analysts to assess the health and competitiveness of Maryland's financial and real estate-related industries.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This trend is widely used by economists, policymakers, and investors to evaluate the state's economic conditions and make informed decisions.
Key Facts
- Maryland's finance, insurance, real estate, rental, and leasing sectors account for over 20% of the state's total GDP.
- This trend has shown steady growth over the past decade, reflecting the importance of these industries to Maryland's economy.
- The real estate and rental/leasing subsectors make up the largest share of this economic trend.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the finance, insurance, real estate, rental, and leasing sectors in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and growth of Maryland's key financial and real estate-related industries, which are important for evaluating the state's overall economic conditions.
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 income and product accounting methods.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and investors to assess the state's economic conditions and make informed decisions regarding Maryland's financial and real estate sectors.
Q: Are there update delays or limitations?
A: The data is subject to the standard update schedule and potential revisions of the U.S. Bureau of Economic Analysis, which should be considered when using this trend.
Related Trends
State Unemployment Benefits in Maryland
MDOBEN
Per Capita Personal Consumption Expenditures: Services: Health Care for Maryland
MDPCEPCHLTHCARE
Spliced Business Formations Within Four Quarters: Total for All NAICS in Maryland
BFSBF4QTOTALSAMD
Production or Nonsupervisory Employees: Manufacturing: Durable Goods in Maryland
SMU24000003100000006
Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Maryland
MDMINNGSP
Administrative and Waste Services Wages and Salaries in Maryland
MDWADM
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Maryland (MDFININSREALRGSP), retrieved from FRED.