Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in South Dakota
SDFRBCINGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,108.20
Year-over-Year Change
63.37%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the monetary authorities, central bank, credit intermediation, and related services sector in South Dakota. It provides insights into the financial services industry's contribution 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 GDP of the monetary authorities, central bank, credit intermediation, and related services sector in South Dakota represents the total value of goods and services produced by this industry. It is a key indicator of the financial services sector's performance and its role in the state's economic landscape.
Methodology
The data is collected and calculated by the U.S. Federal Reserve based on standard GDP accounting principles.
Historical Context
This trend is used by economists, policymakers, and financial analysts to assess the health and growth of South Dakota's financial services industry and its impact on the state's overall economic performance.
Key Facts
- South Dakota's financial services sector accounts for a significant portion of the state's GDP.
- The GDP of the monetary authorities, central bank, and related services has shown steady growth in recent years.
- This trend is closely monitored by policymakers and economists to gauge the performance of South Dakota's financial industry.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the monetary authorities, central bank, credit intermediation, and related services sector in the state of South Dakota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and contribution of the financial services industry to South Dakota's overall economic activity, which is crucial for policymakers, economists, and financial analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve based on standard GDP accounting principles.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and financial analysts to assess the health and growth of South Dakota's financial services industry and its impact on the state's overall economic performance, informing policy decisions and market analysis.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and potential limitations as other GDP-related statistics published by the U.S. Federal Reserve.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in South Dakota (SDFRBCINGSP), retrieved from FRED.