Real Gross Domestic Product: Government and Government Enterprises (92) in Alabama
ALGOVRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39,339.30
Year-over-Year Change
9.89%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the real gross domestic product (GDP) contribution of the government and government enterprises sector in the state of Alabama. It provides insight into the economic role and performance of the public sector in the state.
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 Real Gross Domestic Product: Government and Government Enterprises (92) in Alabama series tracks the inflation-adjusted value added by the government sector to the state's total economic output. This metric is used by policymakers and analysts to assess the fiscal health and economic impact of the public sector in Alabama.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its state-level GDP by industry estimates.
Historical Context
Trends in government GDP are closely monitored for their implications on fiscal policy, public service provision, and the overall state economic environment.
Key Facts
- Alabama's government GDP was $39.4 billion in 2021.
- Government GDP accounted for 12.5% of Alabama's total economic output in 2021.
- Real government GDP in Alabama grew by 1.8% in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) contribution of the government and government enterprises sector in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: Trends in government GDP are closely monitored for their implications on fiscal policy, public service provision, and the overall state economic environment.
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 state-level GDP by industry estimates.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and analysts to assess the fiscal health and economic impact of the public sector in Alabama.
Q: Are there update delays or limitations?
A: The data is published with a lag, usually several months after the end of the reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Government and Government Enterprises (92) in Alabama (ALGOVRGSP), retrieved from FRED.