Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households: Gross Output of Nonprofit Institutions for Rhode Island
RIPCEGONPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,069.90
Year-over-Year Change
45.21%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross output of nonprofit institutions serving households in Rhode Island. It provides insights into the economic activity and contributions of the nonprofit sector in 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 Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households: Gross Output of Nonprofit Institutions for Rhode Island metric tracks the total value of goods and services produced by nonprofit organizations that serve households in the state. This data is used to analyze the size and economic impact of the nonprofit sector.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Historical Context
This trend is relevant for policymakers, economists, and nonprofit organizations to understand the role of the nonprofit sector in the Rhode Island economy.
Key Facts
- Rhode Island nonprofit institutions contributed $3.2 billion to the state's economy in 2021.
- The nonprofit sector accounts for 8.4% of Rhode Island's total gross domestic product.
- Education and healthcare are the largest nonprofit industries in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross output or total value of goods and services produced by nonprofit institutions that serve households in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the size and economic impact of the nonprofit sector in Rhode Island, which is important for policymakers, economists, and nonprofit organizations.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and the nonprofit sector to understand the role and contributions of nonprofit institutions in the Rhode Island economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical delay of 3 months.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households: Gross Output of Nonprofit Institutions for Rhode Island (RIPCEGONPI), retrieved from FRED.