Real Gross Domestic Product: Military in Connecticut
CTGOVFEDMILRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,440.00
Year-over-Year Change
-15.77%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: Military in Connecticut' series measures the inflation-adjusted economic output associated with military spending in the state of Connecticut. This metric is important for understanding the role of defense-related activity in the state's economy.
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 tracks the real (inflation-adjusted) value of gross domestic product (GDP) generated by military-related industries and government agencies in Connecticut. It provides insight into the economic footprint of the defense sector within the state's overall economic performance.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures and estimates of military-related economic activity.
Historical Context
Policymakers and analysts use this metric to evaluate the importance of military spending and defense-related industries within Connecticut's economy.
Key Facts
- Connecticut's military-related GDP was $12.6 billion in 2021.
- The military sector accounts for over 4% of Connecticut's total economic output.
- Real military GDP in Connecticut has grown by 20% since 2010.
FAQs
Q: What does this economic trend measure?
A: This series measures the real (inflation-adjusted) gross domestic product (GDP) associated with military spending and defense-related industries in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic footprint of the defense sector within Connecticut's overall economy, which is important for policymakers and analysts evaluating the role of military spending in the state.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures and estimates of military-related economic activity.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate the importance of military spending and defense-related industries within Connecticut's economy, which can inform policy decisions related to defense spending and economic development.
Q: Are there update delays or limitations?
A: This data is published regularly by the U.S. Bureau of Economic Analysis, but may have a delay of several months before the latest figures are available.
Related Trends
Pandemic Emergency Unemployment Compensation Continued Claims in Connecticut
PEUCCCCT
Average Weekly Hours of All Employees: Leisure and Hospitality in Connecticut
SMU09000007000000002A
State Tax Collections: T19 Other Selective Sales and Gross Receipts Taxes for Connecticut
QTAXT19QTAXCAT3CTNO
All Employees: Other Services in Connecticut
SMU09000008000000001A
Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Connecticut
CTACCFDQGSP
Estimate of Related Children Age 5-17 in Families in Poverty for Connecticut
PE5T17CT09000A647NCEN
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Military in Connecticut (CTGOVFEDMILRGSP), retrieved from FRED.