Real Gross Domestic Product: Insurance Carriers and Related Activities (524) in Nebraska
NEINSCRARGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14,919.10
Year-over-Year Change
230.12%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the insurance carriers and related activities industry in Nebraska. It provides insights into the performance and growth of this crucial sector of 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 Real Gross Domestic Product: Insurance Carriers and Related Activities (524) in Nebraska series tracks the inflation-adjusted output of the insurance industry in the state. This metric is used by economists and policymakers to analyze the health and contributions of this service-oriented sector to Nebraska's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Monitoring this trend can inform state-level economic policies and business strategies related to the insurance industry in Nebraska.
Key Facts
- The insurance industry accounts for over 3% of Nebraska's total GDP.
- Real insurance GDP in Nebraska has grown by an average of 2.5% annually over the past decade.
- Nebraska ranks among the top 15 states in the U.S. for insurance industry employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the insurance carriers and related activities industry in the state of Nebraska.
Q: Why is this trend relevant for users or analysts?
A: Tracking the real GDP of Nebraska's insurance industry provides valuable insights into the performance and growth of this crucial sector, which is important for 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 using established national accounting principles.
Q: How is this trend used in economic policy?
A: Monitoring this insurance industry GDP trend can inform state-level economic policies and business strategies related to the insurance sector in Nebraska.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to minor revisions over time as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Insurance Carriers and Related Activities (524) in Nebraska (NEINSCRARGSP), retrieved from FRED.