Gross Domestic Product: Government and Government Enterprises (92) in Connecticut
CTGOVNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33,038.90
Year-over-Year Change
14.97%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Government and Government Enterprises (92) in Connecticut measures the economic output of the government sector in the state. This metric is important for understanding the role of the public sector in Connecticut'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 value added by government and government enterprises as a component of the Gross Domestic Product (GDP) for the state of Connecticut. It provides insights into the size and contribution of the public sector to the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its state-level GDP estimates.
Historical Context
Policymakers and economists use this metric to analyze the economic influence of government activities in Connecticut.
Key Facts
- Connecticut's government and government enterprises account for approximately 11% of the state's GDP.
- This sector has grown by 3.2% annually over the past 5 years.
- The public sector is a significant employer in Connecticut, comprising around 15% of the state's total workforce.
FAQs
Q: What does this economic trend measure?
A: This trend measures the economic output of the government sector, including federal, state, and local government agencies and enterprises, in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the role and contribution of the public sector to Connecticut's overall economic activity, which is relevant for policymakers, economists, and those analyzing the state's economic landscape.
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 its state-level GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to understand the economic influence of government activities in Connecticut, which can inform decisions related to fiscal policy, public spending, and the overall management of the state's economy.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 quarter delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Government and Government Enterprises (92) in Connecticut (CTGOVNQGSP), retrieved from FRED.