Real Gross Domestic Product: Federal Civilian in Colorado
COGOVFEDCIVRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,166.80
Year-over-Year Change
23.76%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: Federal Civilian in Colorado' series measures the real (inflation-adjusted) economic output generated by the federal civilian sector in the state of Colorado. This metric is important for economists and policymakers to understand the role of the federal government in Colorado's overall economic activity.
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 series represents the portion of Colorado's real GDP that is attributable to the federal civilian sector, excluding military personnel. It provides insight into the economic influence and fiscal footprint of the federal government within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their state-level GDP estimates.
Historical Context
Analysts use this metric to assess the economic impact of federal spending and employment in Colorado and to inform policy decisions.
Key Facts
- Colorado's federal civilian sector accounted for 2.3% of the state's real GDP in 2021.
- This metric has grown by an average of 1.7% annually over the past 10 years.
- The federal civilian sector is the third-largest contributor to Colorado's real GDP, behind private services and private goods production.
FAQs
Q: What does this economic trend measure?
A: This series measures the real, inflation-adjusted economic output generated by the federal civilian sector in the state of Colorado.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic influence and fiscal footprint of the federal government within Colorado, which is useful for analysts and policymakers.
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 their state-level GDP estimates.
Q: How is this trend used in economic policy?
A: Analysts use this metric to assess the economic impact of federal spending and employment in Colorado and to inform policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and limitations as the broader state-level GDP estimates published by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Federal Civilian in Colorado (COGOVFEDCIVRGSP), retrieved from FRED.