Real Gross Domestic Product: Government and Government Enterprises (92) in Massachusetts
Annual, Not Seasonally Adjusted
MAGOVRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
54,551.80
Year-over-Year Change
3.80%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' series measures total government gross output in the United States. This metric provides insights into the size and composition of government 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 'Annual, Not Seasonally Adjusted' series tracks the total value of goods and services produced by the U.S. government. It is a key indicator of the government's role and contribution to the overall economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA).
Historical Context
This metric is closely monitored by policymakers, economists, and market analysts to assess the government's economic footprint.
Key Facts
- Government gross output reached $3.4 trillion in 2021.
- The government sector accounts for approximately 17% of total U.S. economic output.
- Government gross output has grown at an average annual rate of 2.7% since 2010.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' series measures the total value of goods and services produced by the U.S. government, providing insights into the size and composition of government economic activity.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely monitored by policymakers, economists, and market analysts to assess the government's economic footprint and its role in the overall U.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 (BEA).
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to analyze the government's fiscal and economic policies, as well as its impact on the broader economy.
Q: Are there update delays or limitations?
A: The 'Annual, Not Seasonally Adjusted' series is published with a lag, typically several months after the end of the reference year.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (MAGOVRGSP), retrieved from FRED.