Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Wisconsin
WIFININSREALNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
87,605.20
Year-over-Year Change
58.52%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) of the finance, insurance, real estate, rental, and leasing sectors in the state of Wisconsin. It provides insight into the performance and contribution of these key industries 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 WIFININSREALNGSP series represents the value-added output of the finance, insurance, real estate, rental, and leasing industries in Wisconsin. This metric is widely used by economists and policymakers to analyze the economic health and structural composition 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 important for understanding the role of the financial and real estate sectors in Wisconsin's economic growth and development, and can inform policy decisions and business strategies.
Key Facts
- Wisconsin's finance, insurance, real estate, rental, and leasing sectors account for over 20% of the state's GDP.
- This industry group has seen steady growth in recent years, outpacing the overall state economy.
- The real estate and rental/leasing components make up the largest share of this economic sector in Wisconsin.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the finance, insurance, real estate, rental, and leasing industries in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and contribution of key industries to Wisconsin's overall economic activity, which is valuable for policymakers, businesses, and economists.
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 can inform policy decisions and business strategies related to the financial, real estate, and related sectors in Wisconsin.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and limitations as the broader regional GDP estimates published by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Wisconsin (WIFININSREALNGSP), retrieved from FRED.