Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in North Carolina
NCFRBCINGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
51,335.10
Year-over-Year Change
114.72%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) for the monetary authorities, credit intermediation, and related services industry in North Carolina. It provides insights into the economic performance and growth of this critical financial services sector 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 NCFRBCINGSP series represents the GDP contribution of the monetary authorities, credit intermediation, and related services industry in North Carolina. This metric is important for analyzing the health and growth of the state's financial services ecosystem, which plays a key role in supporting economic activity and investment.
Methodology
The data is collected and calculated by the U.S. Federal Reserve using standard GDP accounting methods.
Historical Context
This economic trend is closely monitored by policymakers, financial analysts, and businesses to understand the financial services industry's impact on North Carolina's overall economic performance.
Key Facts
- North Carolina's financial services industry accounts for a significant portion of the state's GDP.
- The GDP contribution of this sector has shown steady growth over the past decade.
- Monitoring this trend is crucial for understanding the economic health and competitiveness of North Carolina.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) for the monetary authorities, credit intermediation, and related services industry in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the performance and growth of North Carolina's financial services sector, which is a key driver of the state's overall economic activity and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve using standard GDP accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers, financial analysts, and businesses closely monitor this trend to assess the health and contribution of the financial services industry to North Carolina's economy.
Q: Are there update delays or limitations?
A: The data is updated regularly by the Federal Reserve, though there may be some publication delays typical of economic statistics.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in North Carolina (NCFRBCINGSP), retrieved from FRED.