Gross Domestic Product: Real Estate and Rental and Leasing (53) in Minnesota
MNRERENTLEANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
67,927.90
Year-over-Year Change
23.94%
Date Range
1/1/2005 - 1/1/2025
Summary
This trend measures the real gross domestic product (GDP) of the real estate and rental and leasing industry in Minnesota. It provides important insights into the state's economic activity and growth in this critical 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 real estate and rental and leasing industry is a significant component of Minnesota's economy. This data series tracks the inflation-adjusted value added by this industry to the state's overall GDP, offering analysts and policymakers a gauge of its performance and contribution to the broader economic landscape.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its state-level GDP estimates.
Historical Context
This trend is closely monitored by economists, investors, and policymakers to assess the health and direction of Minnesota's real estate and related sectors.
Key Facts
- Minnesota's real estate and rental and leasing industry accounts for over 12% of the state's GDP.
- This sector has experienced steady growth, expanding by an average of 3.2% annually over the past decade.
- The real estate industry is a key driver of Minnesota's economy, supporting employment, investment, and broader economic activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the real estate and rental and leasing industry in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: The real estate and rental and leasing industry is a critical component of Minnesota's economy, and this data provides important insights into its performance and contribution to overall economic activity in the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its state-level GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by economists, investors, and policymakers to assess the health and direction of Minnesota's real estate and related sectors, which have significant implications for the state's overall economic development and growth.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months, which is typical for state-level economic indicators.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Real Estate and Rental and Leasing (53) in Minnesota (MNRERENTLEANQGSP), retrieved from FRED.