Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Mississippi
MSFININSREALNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26,985.40
Year-over-Year Change
75.74%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) contribution of the finance, insurance, real estate, rental, and leasing sectors in Mississippi. It provides insights into the performance and relative importance of these industries 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 MSFININSREALNGSP series tracks the GDP generated by a specific set of industries classified under the North American Industry Classification System (NAICS) codes 52 and 53. This data is used by economists and policymakers to analyze the economic structure and growth dynamics of Mississippi.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its comprehensive GDP reporting for states and regions.
Historical Context
This trend is relevant for understanding the composition and evolution of Mississippi's economy, which can inform policy decisions and business strategies.
Key Facts
- Mississippi's finance, insurance, real estate, rental, and leasing sectors accounted for 20.2% of the state's GDP in 2021.
- This industry group has seen steady growth, expanding by 3.4% annually on average over the past decade.
- The real estate and rental/leasing sub-sectors make up the largest shares within this industry group.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contribution of the finance, insurance, real estate, rental, and leasing sectors in the state of Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the performance and relative importance of these key industries within Mississippi's economy, which can inform 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 its comprehensive GDP reporting for states and regions.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to understand the composition and growth dynamics of Mississippi's economy, which can inform decisions related to economic development, industry support, and regulatory policies.
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, Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Mississippi (MSFININSREALNGSP), retrieved from FRED.