Net value added: Net domestic product: General government: State and local
B251RC1A027NBEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,754.10
Year-over-Year Change
52.91%
Date Range
1/1/1929 - 1/1/2024
Summary
This economic trend measures the net value added by state and local government entities as part of the U.S. domestic product. It is a key indicator of the economic contribution and performance of the public sector.
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 value added is a core component of gross domestic product (GDP), representing the total value created through production after accounting for intermediate inputs. This state and local government series provides insights into the productivity and economic impact of the public sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Historical Context
Policymakers and analysts use this metric to assess the fiscal health and economic role of state and municipal governments.
Key Facts
- State and local governments account for over $2 trillion in annual economic output.
- This metric has shown steady growth over the past decade, reflecting the expanding role of the public sector.
- Net value added excludes transfer payments and focuses on productive economic activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the net value added by state and local government entities as part of the U.S. domestic product. It reflects the productive economic contribution of the public sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the fiscal health and economic role of state and municipal governments, which are key components of the overall U.S. economy.
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.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the productivity and economic impact of the public sector, informing decisions around fiscal policy, government spending, and the role of state and local governments.
Q: Are there update delays or limitations?
A: The data is updated quarterly with a lag, and may be subject to revisions as more complete information becomes available.
Related Trends
State Government Tax Collections, Total Sales and Gross Receipts Taxes in the United States
USSLGRTAX
Real National Defense Gross Investment: Equipment: Other Equipment
B879RL1A225NBEA
Current surplus of government enterprises: Federal: Other
L312141A027NBEA
Selected Government Consumption Expenditures and Gross Investment: State and Local: Net Health: Sales to other sectors
Y651RC1A027NBEA
Intermediate Inputs by Industry: Government: State and Local (Chain-Type Price Index)
IIPISL
Real federal government consumption expenditures: Nondefense consumption expenditures: Gross output of general government: Value added: Consumption of general government fixed capital
B546RX1Q020SBEA
Citation
U.S. Federal Reserve, Net value added: Net domestic product: General government: State and local (B251RC1A027NBEA), retrieved from FRED.