Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Alabama
ALGOVQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
110.04
Year-over-Year Change
9.89%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Alabama measures the volume of economic activity generated by the government sector in the state. It is a key indicator for understanding the role of public institutions in Alabama'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 index tracks the real, inflation-adjusted output of government and government enterprises in Alabama over time. It is a useful metric for evaluating the contribution of the public sector to the state's overall economic performance.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Historical Context
Policymakers and analysts use this trend to assess the fiscal and economic health of Alabama's government activities.
Key Facts
- The index uses 2012 as the base year with a value of 100.
- Government and government enterprises account for about 13% of Alabama's total GDP.
- The index reached a high of 117.74 in 2015 before declining in subsequent years.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the government and government enterprises sector in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into the economic contribution and performance of the public sector in Alabama, which is critical for understanding the state's overall economic health and development.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the fiscal and economic health of Alabama's government activities, which informs decision-making and policy development.
Q: Are there update delays or limitations?
A: The data is updated regularly by the Federal Reserve, but there may be some delay in the most recent figures being available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Alabama (ALGOVQGSP), retrieved from FRED.