Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Rhode Island
RIFRBCINGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,107.80
Year-over-Year Change
118.91%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the monetary authorities, credit intermediation, and related services sector in Rhode Island. It provides insights into the performance and contribution of this key industry to the state's overall economic activity.
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 RIFRBCINGSP series represents the GDP of the monetary authorities, credit intermediation, and related services industry in Rhode Island. This metric is used by economists and policymakers to analyze the financial sector's role and its impact on the state's economic growth and development.
Methodology
The data is collected and calculated by the U.S. Federal Reserve based on national income and product accounts.
Historical Context
This trend is relevant for understanding the health and competitiveness of Rhode Island's financial services industry and its influence on the state's overall economic performance.
Key Facts
- Rhode Island's GDP in the monetary authorities and credit intermediation sector was $3.4 billion in 2020.
- This industry accounts for over 5% of Rhode Island's total GDP.
- The financial services sector has been a key driver of economic growth in Rhode Island in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the monetary authorities, credit intermediation, and related services industry in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and contribution of the financial services sector to Rhode Island's overall economic activity, which is crucial for understanding the state's economic growth and development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve based on national income and product accounts.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the health and competitiveness of Rhode Island's financial services industry and its influence on the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is updated regularly by the Federal Reserve, but there may be some delays in the release of the most recent figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Rhode Island (RIFRBCINGSP), retrieved from FRED.