Real Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Tennessee
TNRENTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,271.60
Year-over-Year Change
137.06%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the rental and leasing services and lessors of nonfinancial intangible assets (NAICS sectors 532-533) in the state of Tennessee. It provides insight into the performance and contribution of this key service 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: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Tennessee series tracks the inflation-adjusted output of businesses engaged in renting, leasing, or licensing tangible or intangible assets in the state. This metric is useful for analyzing the health and growth trends within this important services-based industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP by industry estimates.
Historical Context
Policymakers and market analysts use this trend to assess the competitive position and economic contribution of Tennessee's rental, leasing, and intellectual property licensing sectors.
Key Facts
- Tennessee's rental and leasing services sector accounted for 2.1% of the state's total GDP in 2021.
- This industry experienced 4.2% annual growth in real output from 2016 to 2021.
- The rental and leasing services industry is a key contributor to Tennessee's services-based economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the rental and leasing services and lessors of nonfinancial intangible assets (NAICS sectors 532-533) in the state of Tennessee.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and economic contribution of Tennessee's rental, leasing, and intellectual property licensing sectors, which are important components of the state's services-based economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP by industry estimates.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this trend to assess the competitive position and economic contribution of Tennessee's rental, leasing, and intellectual property licensing sectors.
Q: Are there update delays or limitations?
A: The data is published with a lag of several quarters, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Tennessee (TNRENTRGSP), retrieved from FRED.