Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in Tennessee
TNRERENTLEAQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
127.06
Year-over-Year Change
43.52%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in Tennessee measures the real output of the real estate and rental and leasing sector in the state's economy. This metric provides insight into the health and growth of a crucial service industry.
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 tracks the quantity, or real output, of the real estate and rental and leasing sector in Tennessee's gross domestic product. It is used by economists and policymakers to analyze trends and changes in this important component of the state's economic activity.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
Trends in this index are monitored by government agencies, industry groups, and market analysts to assess the performance of Tennessee's real estate and rental markets.
Key Facts
- The index uses 2012 as the base year.
- Real estate and rental and leasing accounts for over 20% of Tennessee's GDP.
- The index has shown steady growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output, or quantity, of the real estate and rental and leasing sector in Tennessee's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: Trends in this index provide insight into the performance and growth of a crucial service industry within the Tennessee economy.
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 quantity index formula.
Q: How is this trend used in economic policy?
A: Government agencies, industry groups, and market analysts monitor this index to assess the health and growth of Tennessee's real estate and rental markets.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis with a typical lag of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in Tennessee (TNRERENTLEAQGSP), retrieved from FRED.