Real Gross Domestic Product: Finance and Insurance (52) in Mississippi
MSFININSRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,632.90
Year-over-Year Change
3.79%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real (inflation-adjusted) gross domestic product (GDP) of the finance and insurance industry in Mississippi. It is a key indicator of the state's economic performance and competitiveness in this important 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 Gross Domestic Product: Finance and Insurance (52) in Mississippi series tracks the total economic output of the finance and insurance industry in the state, adjusted for inflation. This data provides insight into the health and growth of a vital component of Mississippi's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This metric is closely monitored by policymakers, analysts, and businesses to assess the state's economic conditions and competitiveness.
Key Facts
- The finance and insurance industry accounts for over 6% of Mississippi's total GDP.
- Real GDP in this sector grew by 3.2% in 2021 compared to the prior year.
- Mississippi ranks 20th among U.S. states for finance and insurance GDP per capita.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the finance and insurance industry in the state of Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the health and growth of a key component of Mississippi's economy, helping policymakers, businesses, and analysts assess the state's economic conditions and competitiveness.
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 income and product accounting methods.
Q: How is this trend used in economic policy?
A: This metric is closely monitored by policymakers, analysts, and businesses to assess Mississippi's economic conditions and competitiveness in the finance and insurance sector.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Finance and Insurance (52) in Mississippi (MSFININSRGSP), retrieved from FRED.