Gross Domestic Product: Finance and Insurance (52) in Missouri
Annual, Not Seasonally Adjusted
MOFININSNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33,019.30
Year-over-Year Change
57.65%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' trend measures personal consumption expenditures on financial services and insurance in the United States. This key economic indicator provides insights into consumer spending patterns and the health of the financial services industry.
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
This series tracks nominal personal consumption expenditures for financial services and insurance, which includes fees paid for various financial products and services. It is an important macroeconomic indicator used by economists, policymakers, and market analysts to assess household financial behavior and the performance of the financial sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Historical Context
Trends in financial services and insurance consumption provide context for monetary and fiscal policy decisions.
Key Facts
- Financial services and insurance account for over 7% of total personal consumption expenditures in the U.S.
- This trend has grown by over 40% in the last decade, outpacing overall consumer spending.
- Spending on financial services and insurance is an important leading indicator of economic conditions.
FAQs
Q: What does this economic trend measure?
A: This trend measures nominal personal consumption expenditures on financial services and insurance products in the United States.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into consumer financial behavior and the performance of the financial sector, 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. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Q: How is this trend used in economic policy?
A: Trends in financial services and insurance consumption offer important context for monetary and fiscal policy decisions by policymakers and central banks.
Q: Are there update delays or limitations?
A: This series is updated quarterly with a lag of approximately 3 months, so there may be delays in accessing the most recent data.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (MOFININSNGSP), retrieved from FRED.