Real Gross Domestic Product: Finance and Insurance (52) in Wisconsin
WIFININSRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26,289.90
Year-over-Year Change
11.56%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: Finance and Insurance (52) in Wisconsin' series measures the economic output of the finance and insurance sector in Wisconsin, adjusted for inflation. This trend is a key indicator of the health and productivity of a vital industry within the state's economy.
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 series tracks the real, inflation-adjusted gross domestic product (GDP) contribution from the finance and insurance sector (NAICS code 52) in the state of Wisconsin. It provides insight into the relative size and growth of this economic segment, which includes banking, insurance, investments, and related financial services.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national accounts and state-level economic data.
Historical Context
Policymakers and analysts use this metric to assess the competitive position and economic importance of Wisconsin's finance and insurance industry.
Key Facts
- Wisconsin's finance and insurance sector accounts for over 6% of the state's total GDP.
- This industry has seen steady growth of around 2% per year over the past decade.
- The finance and insurance sector is the fourth-largest contributor to Wisconsin's economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) contribution from the finance and insurance sector in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic performance and competitive position of a vital industry within Wisconsin's economy, which is useful for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national accounts and state-level economic data.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the importance and growth of Wisconsin's finance and insurance sector, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Finance and Insurance (52) in Wisconsin (WIFININSRGSP), retrieved from FRED.