Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Minnesota
MNFRBCINGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15,715.10
Year-over-Year Change
115.27%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the Gross Domestic Product (GDP) of the monetary authorities, credit intermediation, and related services sector in Minnesota. It provides valuable insights into the performance and contribution of this key financial services industry within the state's economy.
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 MNFRBCINGSP series represents the GDP generated by the monetary authorities, credit intermediation, and related services industry, which includes banks, credit unions, and other financial institutions in Minnesota. This metric is widely used by economists and policymakers to analyze the financial services sector's economic impact and its role in the state's overall economic growth.
Methodology
The data is collected and calculated by the U.S. Federal Reserve using established national income and product accounting methods.
Historical Context
This GDP trend is relevant for understanding the financial services industry's contribution to Minnesota's economy and can inform policy decisions and market analysis.
Key Facts
- Minnesota's financial services sector accounts for a significant portion of the state's GDP.
- The GDP of the monetary authorities, credit intermediation, and related services industry has shown steady growth in recent years.
- This economic trend is closely monitored by policymakers and analysts to assess the health and competitiveness of Minnesota's financial services industry.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) generated by the monetary authorities, credit intermediation, and related services industry in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and contribution of the financial services sector within Minnesota's economy, which is crucial for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: This GDP trend is used by economists and policymakers to understand the financial services industry's role in Minnesota's economic growth and to inform policy decisions that may impact this sector.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedules and potential revisions as other GDP-related statistics published by the Federal Reserve.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Minnesota (MNFRBCINGSP), retrieved from FRED.