Real Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in South Dakota
SDFININSREALRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,907.80
Year-over-Year Change
-10.36%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the finance, insurance, real estate, rental, and leasing industries in South Dakota. It provides insights into the performance and contribution of these critical sectors to the state's overall economic output.
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: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in South Dakota metric tracks the inflation-adjusted economic activity within these industries, which are key drivers of economic growth and stability. Economists and policymakers analyze this data to understand sectoral performance and plan effective economic policies.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Historical Context
This trend is widely used by economists, investors, and policymakers to assess the health and development of South Dakota's service-based economy.
Key Facts
- South Dakota's finance, insurance, real estate, rental, and leasing industries account for over 20% of the state's GDP.
- This sector has experienced steady growth, outpacing the national average in recent years.
- The performance of these industries is closely tied to the state's overall economic prosperity and development.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the finance, insurance, real estate, rental, and leasing industries in South Dakota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and contribution of these critical sectors to South Dakota's overall economic output, which is valuable for economists, policymakers, and investors.
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 trend is widely used by economists, investors, and policymakers to assess the health and development of South Dakota's service-based economy and inform economic policies.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Bureau of Economic Analysis, but there may be some delays in reporting due to the comprehensive nature of the national income and product accounts.
Related Trends
Regional Price Parities: Services: Other for South Dakota
SDRPPSERVEOTH
Average Weekly Hours of All Employees: Education and Health Services: Private Education and Health Services in South Dakota
SMU46000006500000002
Employment Level for South Dakota
EMPLOYSD
Arts, Entertainment and Recreation Wages and Salaries in South Dakota
SDWART
Real Gross Domestic Product: Computer and Electronic Product Manufacturing (334) in South Dakota
SDCPUELCPMANRGSP
Value of Exports to Sweden from South Dakota
SDSWEA052SCEN
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in South Dakota (SDFININSREALRGSP), retrieved from FRED.