Gross Domestic Product: Finance and Insurance (52) in North Carolina
NCFININSNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
82,956.00
Year-over-Year Change
122.38%
Date Range
1/1/1997 - 1/1/2024
Summary
This series measures the gross domestic product (GDP) of the finance and insurance sector in North Carolina. It provides insights into the economic activity and performance of this critical industry within the state.
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 Gross Domestic Product: Finance and Insurance (52) in North Carolina series tracks the total economic output of the finance and insurance sector in the state. It is a key indicator used by economists and policymakers to analyze the health and growth of this important component of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting procedures.
Historical Context
This trend is widely used by investors, analysts, and government officials to monitor the economic conditions and competitiveness of North Carolina's finance and insurance industry.
Key Facts
- North Carolina's finance and insurance sector accounts for over 7% of the state's total GDP.
- This industry has experienced steady growth, outpacing the overall state economy in recent years.
- The finance and insurance sector is a major employer in North Carolina, providing jobs for over 250,000 workers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the finance and insurance sector in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: The finance and insurance industry is a critical component of North Carolina's economy, and this trend provides important insights into its performance and contribution to the state's overall economic activity.
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 procedures.
Q: How is this trend used in economic policy?
A: Policymakers, investors, and analysts use this trend to monitor the health and competitiveness of North Carolina's finance and insurance sector, which informs economic development strategies and investment decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately three months, and it may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Finance and Insurance (52) in North Carolina (NCFININSNGSP), retrieved from FRED.