Taxes on production and imports: Local government: Sales taxes
A1667C1A027NBEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
137.83
Year-over-Year Change
97.97%
Date Range
1/1/1959 - 1/1/2023
Summary
This economic indicator tracks local government revenue from sales taxes, a key source of funding for public services and infrastructure.
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
Sales taxes collected by local governments represent an important component of overall tax revenue and economic activity. This data series provides insight into the health of consumer spending and the fiscal position of municipal and county-level authorities.
Methodology
The data is collected and published by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts monitor this indicator to assess the broader economic climate and local government budgets.
Key Facts
- Sales taxes make up around 30% of total local tax revenue.
- Local sales tax collections have grown over 5% annually on average since 2010.
- Fluctuations in this indicator often reflect changes in consumer confidence and spending.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks revenue from sales taxes collected by local governments, including cities, counties, and other municipal authorities.
Q: Why is this trend relevant for users or analysts?
A: Sales tax collections provide insight into consumer spending patterns and the fiscal health of local public-sector budgets, making this a valuable indicator for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is compiled and published by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Analysts and policymakers monitor this indicator to assess the broader economic climate, consumer confidence, and the fiscal position of local governments.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months, and may be subject to periodic revisions by the collecting agency.
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Citation
U.S. Federal Reserve, Taxes on production and imports: Local government: Sales taxes (A1667C1A027NBEA), retrieved from FRED.