Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in South Carolina
SCRERENTLEARGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
43,203.30
Year-over-Year Change
56.76%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the real estate and rental and leasing industry in South Carolina. It provides insights into the performance and contribution of this sector 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 Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in South Carolina series tracks the inflation-adjusted value added by the real estate, rental, and leasing industry to the state's GDP. This metric is used by economists and policymakers to analyze the health and growth of this crucial sector within the broader state economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product account (NIPA) methodologies.
Historical Context
This economic indicator helps inform decisions and policies related to the real estate, rental, and leasing market in South Carolina.
Key Facts
- South Carolina's real estate and rental and leasing sector accounts for over 15% of the state's total GDP.
- This industry has experienced steady growth in recent years, outpacing the state's overall economic expansion.
- The real estate and rental and leasing sector is a major employer in South Carolina, providing jobs for over 100,000 workers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the real estate and rental and leasing industry in the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the performance and contribution of the real estate, rental, and leasing sector to South Carolina's overall economic activity, which is crucial for economists and policymakers to analyze.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product account (NIPA) methodologies.
Q: How is this trend used in economic policy?
A: This economic indicator helps inform decisions and policies related to the real estate, rental, and leasing market in South Carolina, which is a major contributor to the state's economy.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedules and potential revisions as other GDP-related statistics published by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in South Carolina (SCRERENTLEARGSP), retrieved from FRED.