Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Tennessee
TNFININSQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
115.76
Year-over-Year Change
33.24%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Tennessee measures the real economic output of the finance and insurance sector in the state. It is a key indicator for economists and policymakers tracking regional economic trends.
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 index represents the volume of goods and services produced by the finance and insurance industry in Tennessee, adjusted for inflation. It is a useful tool for analyzing the state's economic structure and evaluating the performance of a critical sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index formula applied to real GDP estimates.
Historical Context
Policymakers and analysts use this index to understand the drivers of Tennessee's economic growth and make informed decisions.
Key Facts
- The index is based on 2012 as the reference year.
- Tennessee's finance and insurance sector accounts for over 7% of the state's total GDP.
- The index has shown steady growth in the sector over the past decade.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output of the finance and insurance industry in Tennessee, adjusting for inflation to provide a volume-based indicator of sector performance.
Q: Why is this trend relevant for users or analysts?
A: The finance and insurance sector is a key driver of Tennessee's economy, and this index provides valuable insights into the performance and growth of this critical industry.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index formula applied to real GDP estimates for the finance and insurance industry in Tennessee.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to understand the drivers of Tennessee's economic growth and make informed decisions about policies and investments targeting the finance and insurance sector.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month lag in data availability.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Tennessee (TNFININSQGSP), retrieved from FRED.