Net lending or net borrowing (-), NIPAs: Government: State and local
AD03RC1Q027SBEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-184.85
Year-over-Year Change
-245.15%
Date Range
1/1/1947 - 1/1/2025
Summary
This economic trend measures the net lending or net borrowing of state and local governments in the United States. It is a key indicator of fiscal policy and the overall financial health of sub-national governments.
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
Net lending or net borrowing, also known as the government surplus or deficit, represents the difference between a government's total revenue and total expenditures. This metric provides insight into the fiscal position of state and local governments and is used by policymakers and analysts to assess economic conditions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts (NIPAs).
Historical Context
This trend is closely monitored by economists, policymakers, and financial markets to gauge the fiscal policies and financial stability of state and local governments.
Key Facts
- State and local governments account for over $3 trillion in annual expenditures.
- The trend has shown a deficit in most years since the Great Recession.
- Positive net lending indicates a government budget surplus.
FAQs
Q: What does this economic trend measure?
A: This trend measures the net lending or net borrowing of state and local governments in the United States, which represents the difference between their total revenue and total expenditures.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the fiscal position of state and local governments and is used by policymakers and analysts to assess economic conditions and the financial stability of sub-national governments.
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 the National Income and Product Accounts (NIPAs).
Q: How is this trend used in economic policy?
A: This trend is closely monitored by economists, policymakers, and financial markets to gauge the fiscal policies and financial stability of state and local governments, which are critical for assessing the overall economic conditions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag, so there may be a delay in reflecting the most recent fiscal conditions of state and local governments.
Related Trends
State and local government subsidies: Housing and community services
G171041A027NBEA
Contributions to Percent Change in National Defense Consumption Expenditures and Gross Investment: Consumption expenditures: Gross output of general government: Intermediate goods and services purchased: Durable goods: Electronics
B388RN2Q224SBEA
Federal government receipts: Coverage differences: Other (NIPA vs. Budget)
M318071A027NBEA
Gross government saving: State and local
A925RC1Q027SBEA
Federal government consumption expenditures: Nondefense consumption expenditures: Gross output of general government: Value added: Consumption of general government fixed capital
B546RC1Q027SBEA
Contributions for government social insurance: Employee and self-employed contributions: Federal social insurance funds: Old-age, survivors, disability, and hospital insurance: Self-employed
CON5201A027NBEA
Citation
U.S. Federal Reserve, Net lending or net borrowing (-), NIPAs: Government: State and local (AD03RC1Q027SBEA), retrieved from FRED.