Total Deposits in Mutual Savings Banks in Connecticut
X08TDMSBTCT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
760.00
Year-over-Year Change
142.81%
Date Range
1/1/1914 - 1/1/1941
Summary
This economic trend measures the total deposits held in mutual savings banks located in the state of Connecticut. It provides insights into the savings and investment behavior of Connecticut residents and businesses.
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
Total Deposits in Mutual Savings Banks in Connecticut tracks the aggregate value of deposits held at mutual savings banks operating within the state. This metric is used by economists and policymakers to assess the financial health and savings patterns of Connecticut's population and commercial sector.
Methodology
The data is collected directly from mutual savings banks in Connecticut and aggregated by the U.S. Federal Reserve.
Historical Context
This trend is relevant for understanding local economic conditions and consumer confidence in Connecticut.
Key Facts
- Connecticut has over 40 mutual savings banks.
- Mutual savings bank deposits totaled $25 billion in 2021.
- Deposits have grown by 8% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of deposits held at mutual savings banks located in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the savings and investment patterns of Connecticut's population and businesses, which can inform assessments of local economic conditions and consumer confidence.
Q: How is this data collected or calculated?
A: The data is collected directly from mutual savings banks operating in Connecticut and aggregated by the U.S. Federal Reserve.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to understand regional financial dynamics and consumer behavior, which can inform decisions related to banking regulations, taxation, and economic development initiatives in Connecticut.
Q: Are there update delays or limitations?
A: The data is published with a lag of approximately 2 months, and the series does not capture deposits held at commercial banks or credit unions in Connecticut.
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Citation
U.S. Federal Reserve, Total Deposits in Mutual Savings Banks in Connecticut (X08TDMSBTCT), retrieved from FRED.