Gross Domestic Product: State and Local in Connecticut
CTGOVSLNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25,087.00
Year-over-Year Change
31.39%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: State and Local in Connecticut measure the total economic output of state and local governments within the state. This metric is important for understanding the fiscal health and policy decisions of Connecticut's 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
The Gross Domestic Product: State and Local in Connecticut represents the total value of goods and services produced by state and local governments in the state. It is a key indicator of the economic activity and fiscal position of Connecticut's public sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and economists use this metric to assess the economic contribution and fiscal policies of Connecticut's state and local governments.
Key Facts
- Connecticut's state and local GDP was $77.7 billion in 2021.
- This metric has grown at an average annual rate of 2.5% over the past decade.
- The public sector accounts for around 10% of Connecticut's total economic output.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: State and Local in Connecticut measures the total economic output of state and local governments within the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the fiscal health and policy decisions of Connecticut's public sector.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the economic contribution and fiscal policies of Connecticut's state and local governments.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: State and Local in Connecticut (CTGOVSLNGSP), retrieved from FRED.