Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in Pennsylvania
PARERENTLEARQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
105,201.50
Year-over-Year Change
5.77%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) of the real estate and rental and leasing industry in Pennsylvania. It provides insights into the performance and growth of this key 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: Real Estate and Rental and Leasing (53) in Pennsylvania series tracks the inflation-adjusted output of the real estate, rental, and leasing industry in the state. This metric is used by economists and policymakers to analyze the health and contribution of this industry to Pennsylvania'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
This trend is relevant for understanding Pennsylvania's economic conditions and guiding policy decisions that impact the real estate, rental, and leasing sector.
Key Facts
- Pennsylvania's real estate and rental and leasing industry accounts for over 15% of the state's GDP.
- This sector has experienced steady growth over the past decade, outpacing the overall state economy.
- The real estate industry is a major employer in Pennsylvania, supporting thousands of jobs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the real estate, rental, and leasing industry in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and contribution of a key sector of Pennsylvania's economy, which is useful 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: This trend is used by economists and policymakers to understand the health and growth of Pennsylvania's real estate, rental, and leasing industry, which can inform decisions and policies that impact this important sector.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, so there may be a delay of a few months before the most recent figures are available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in Pennsylvania (PARERENTLEARQGSP), retrieved from FRED.