Gross Domestic Product: Real Estate and Rental and Leasing (53) in Rhode Island
RIRERENTLEANGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,570.50
Year-over-Year Change
59.36%
Date Range
1/1/1997 - 1/1/2024
Summary
This series measures the real gross domestic product (GDP) of the real estate and rental and leasing industry in Rhode Island. It is an important indicator of economic activity and investment in the state's real estate sector.
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 estate and rental and leasing industry is a significant component of Rhode Island's economy. This series tracks the inflation-adjusted GDP generated by this industry, providing insight into its growth, productivity, and overall contribution to the state's economic performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting principles.
Historical Context
Policymakers and analysts use this trend to assess the health and trajectory of Rhode Island's real estate market and its broader economic implications.
Key Facts
- Real estate and rental and leasing account for over 15% of Rhode Island's GDP.
- This industry has experienced steady growth in recent years, outpacing the state's overall economic expansion.
- The data is released quarterly by the Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: This series measures the real gross domestic product (GDP) of the real estate and rental and leasing industry in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and contribution of Rhode Island's real estate sector, which is a crucial component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the health and trajectory of Rhode Island's real estate market and its broader economic implications.
Q: Are there update delays or limitations?
A: The data is released quarterly by the Bureau of Economic Analysis, with a typical delay of several months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Real Estate and Rental and Leasing (53) in Rhode Island (RIRERENTLEANGSP), retrieved from FRED.