Gross Domestic Product: Finance and Insurance (52) in South Carolina
SCFININSNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16,847.20
Year-over-Year Change
26.80%
Date Range
1/1/2005 - 1/1/2025
Summary
The 'Gross Domestic Product: Finance and Insurance (52) in South Carolina' trend measures the total economic output of the finance and insurance sector in South Carolina. This data is crucial for understanding the health and growth of the state's financial industry.
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
This series tracks the real gross domestic product (GDP) of the finance and insurance industry in South Carolina. It provides insight into the performance and contribution of this key economic sector, which includes banking, insurance, securities, and other financial services.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Historical Context
This GDP data informs economic policymakers and analysts about the dynamics of South Carolina's financial markets and supports decision-making.
Key Facts
- South Carolina's finance and insurance sector accounts for over 6% of the state's total GDP.
- This industry has experienced steady growth in recent years, outpacing the overall state economy.
- The finance and insurance sector is a major employer in South Carolina, accounting for over 100,000 jobs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the finance and insurance industry in the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insights into the performance and importance of the finance and insurance sector within South Carolina's economy, informing decision-making by policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Q: How is this trend used in economic policy?
A: This GDP data on the finance and insurance sector is used by policymakers and economists to assess the health and growth of South Carolina's financial markets, supporting informed decision-making and policy development.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Finance and Insurance (52) in South Carolina (SCFININSNQGSP), retrieved from FRED.