Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Connecticut
CTGOVQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
93.94
Year-over-Year Change
-5.52%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Connecticut measures the real economic output of the government sector in the state. This metric is crucial for economists and policymakers to assess the role of the public sector in Connecticut's economic growth and development.
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 index tracks the volume of goods and services produced by government entities in Connecticut, adjusted for inflation. It provides a comprehensive measure of the government's economic contribution beyond just spending or employment figures.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using chained-dollar accounting methods.
Historical Context
Policymakers utilize this index to evaluate the efficiency and productivity of the public sector, informing decisions around fiscal policy and government programs.
Key Facts
- Connecticut's government GDP index has grown by 23% since 2010.
- The government sector accounts for approximately 12% of Connecticut's total economic output.
- This index is published quarterly by the U.S. Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Connecticut measures the real economic output of the government sector in the state, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for economists and policymakers to assess the role of the public sector in Connecticut's economic growth and development, informing decisions around fiscal policy and government programs.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using chained-dollar accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers utilize this index to evaluate the efficiency and productivity of the public sector in Connecticut, informing decisions around fiscal policy and government programs.
Q: Are there update delays or limitations?
A: This index is published quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Connecticut (CTGOVQGSP), retrieved from FRED.