Gross Domestic Product: Finance and Insurance (52) in Montana
MTFININSNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,901.80
Year-over-Year Change
103.26%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Finance and Insurance (52) in Montana measures the economic output of the finance and insurance sector in the state. This metric is important for understanding the relative strength and growth of a key industry within Montana'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
This series represents the gross domestic product (GDP) of the finance and insurance industry in Montana. It is a key indicator of the size and performance of this crucial economic sector, which includes activities such as banking, investment management, and insurance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and analysts use this metric to assess the health and competitiveness of Montana's finance and insurance industry compared to other states and the national economy.
Key Facts
- Montana's finance and insurance GDP was $6.4 billion in 2021.
- The sector accounts for 6.2% of Montana's total economic output.
- Finance and insurance GDP in Montana grew by 3.2% in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the finance and insurance industry in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the relative strength and growth of a key industry within Montana's economy.
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 accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health and competitiveness of Montana's finance and insurance industry compared to other states and the national economy.
Q: Are there update delays or limitations?
A: The data is published regularly by the Bureau of Economic Analysis, but may have a lag of several months compared to the current period.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Finance and Insurance (52) in Montana (MTFININSNGSP), retrieved from FRED.