Real Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in Minnesota
MNFNDTRSTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
88.80
Year-over-Year Change
-58.17%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the funds, trusts, and other financial vehicles industry in the state of Minnesota. It provides important insights into the financial services sector's contribution to the state's 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 Real Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in Minnesota series tracks the inflation-adjusted output of this key industry within the state. It is a valuable indicator of the financial industry's health and its role in Minnesota's overall economic performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is closely monitored by policymakers, economists, and financial analysts to assess the strength and trends in Minnesota's financial services sector.
Key Facts
- Minnesota's funds, trusts, and financial vehicles industry accounts for over 5% of the state's total GDP.
- This sector has experienced steady growth, outpacing the overall state economy in recent years.
- Financial services are a major employer in Minnesota, providing jobs for over 100,000 workers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the funds, trusts, and other financial vehicles industry in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the health and performance of Minnesota's financial services sector, which is a significant contributor to the state's overall economic activity.
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 principles.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and financial analysts closely monitor this trend to assess the strength and trends in Minnesota's financial services sector, which informs economic policy decisions.
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: Funds, Trusts, and Other Financial Vehicles (525) in Minnesota (MNFNDTRSTRGSP), retrieved from FRED.