State and Local Government: Current Receipts
ASLRECPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,854.81
Year-over-Year Change
87.74%
Date Range
1/1/1929 - 1/1/2024
Summary
This economic trend measures the total current receipts of U.S. state and local governments, providing insights into their fiscal health and economic conditions.
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 State and Local Government: Current Receipts series tracks the total income received by state and local governments from taxes, intergovernmental transfers, and other sources. It is a key indicator of government finances and the broader economy.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state and local government entities.
Historical Context
This metric is used by policymakers, analysts, and economists to assess the fiscal stability and spending capacity of subnational governments.
Key Facts
- State and local governments account for over $3 trillion in total annual receipts.
- Current receipts grew by 10.2% in 2021 compared to the previous year.
- Sales and gross receipts taxes make up the largest source of state and local government revenue.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total current receipts of U.S. state and local governments, including taxes, intergovernmental transfers, and other sources of revenue.
Q: Why is this trend relevant for users or analysts?
A: State and local government finances are a key indicator of economic conditions and fiscal stability. This data is used by policymakers, economists, and market analysts to assess the spending capacity and fiscal health of subnational governments.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state and local government entities.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers, analysts, and economists to evaluate the fiscal conditions and spending capacity of state and local governments, which can inform policy decisions related to taxation, intergovernmental transfers, and public spending.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months. There may also be revisions to historical data as more complete information becomes available.
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Citation
U.S. Federal Reserve, State and Local Government: Current Receipts (ASLRECPT), retrieved from FRED.