Real Gross Domestic Product: Federal Civilian in Pennsylvania
PAGOVFEDCIVRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15,687.70
Year-over-Year Change
13.37%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: Federal Civilian in Pennsylvania' series measures the inflation-adjusted economic output of the federal civilian sector in the state of Pennsylvania. This metric is important for economists and policymakers to assess the contribution of the federal government to 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 data series represents the real (inflation-adjusted) value of gross domestic product (GDP) generated by the federal civilian sector in Pennsylvania. It provides insight into the economic role and impact of the federal government within 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 used by economists, policymakers, and market analysts to understand the economic dynamics and fiscal policies affecting Pennsylvania's economy.
Key Facts
- Pennsylvania's federal civilian GDP was $32.3 billion in 2021.
- Federal civilian GDP accounts for 2.9% of Pennsylvania's total real GDP.
- This trend has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted gross domestic product (GDP) generated by the federal civilian sector in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the economic role and impact of the federal government within Pennsylvania's economy, which is important for understanding regional economic dynamics and fiscal policy.
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 used by economists, policymakers, and market analysts to understand the economic dynamics and fiscal policies affecting Pennsylvania's economy.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis with a short delay, and may be subject to revisions over time.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Federal Civilian in Pennsylvania (PAGOVFEDCIVRGSP), retrieved from FRED.