Real Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in Utah
UTFNDTRSTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
57.40
Year-over-Year Change
62.15%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of funds, trusts, and other financial vehicles in the state of Utah. It is an important indicator for understanding the financial sector's contribution 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: Funds, Trusts, and Other Financial Vehicles (525) in Utah series represents the inflation-adjusted value added by this industry to the state's GDP. It provides insights into the performance and growth of Utah's financial services industry, which is a key component of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Historical Context
This trend is closely monitored by policymakers, investors, and economists to assess the health and development of Utah's financial services sector.
Key Facts
- Utah's financial services industry accounts for over 7% of the state's total GDP.
- The real GDP of funds, trusts, and other financial vehicles in Utah has grown by an average of 3.2% annually over the past decade.
- This industry contributed $6.2 billion to Utah's economy in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the funds, trusts, and other financial vehicles industry in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and growth of Utah's financial services sector, which is a key component of the state's 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 estimates.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, investors, and economists to assess the health and development of Utah's financial services sector.
Q: Are there update delays or limitations?
A: The data is typically released with a 1-2 quarter delay and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in Utah (UTFNDTRSTRGSP), retrieved from FRED.