Real Gross Domestic Product: State and Local in Arkansas
ARGOVSLRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,346.70
Year-over-Year Change
0.01%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) generated by state and local governments in Arkansas. It provides important insights into the size and growth of the public sector's economic contribution within 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: State and Local in Arkansas series tracks the inflation-adjusted value of goods and services produced by Arkansas's state and local government entities. This metric is a key indicator of the public sector's economic role and can inform policy decisions related to government spending, revenues, and program effectiveness.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic trend is widely monitored by policymakers, economists, and analysts to assess the fiscal health and economic footprint of state and local governments in Arkansas.
Key Facts
- Arkansas's state and local GDP was $56.5 billion in 2021.
- This sector accounts for approximately 13% of Arkansas's total economic output.
- Real state and local GDP in Arkansas grew by 2.7% in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) generated by state and local government entities within the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the size and economic contribution of the public sector in Arkansas, which is crucial for evaluating fiscal policies, government programs, and the overall health of the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and analysts monitor this trend to assess the fiscal health and economic footprint of state and local governments in Arkansas, which informs decisions related to government spending, revenues, and program effectiveness.
Q: Are there update delays or limitations?
A: This data is published with a lag, typically several months after the end of each quarter or year. Additionally, the methodology used to calculate state and local GDP may be subject to periodic revisions by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: State and Local in Arkansas (ARGOVSLRGSP), retrieved from FRED.