Real Gross Domestic Product: Federal Civilian in Florida
FLGOVFEDCIVRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22,387.80
Year-over-Year Change
31.24%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: Federal Civilian in Florida' series measures the inflation-adjusted economic output of the federal civilian government sector in the state of Florida. This metric is crucial for policymakers and analysts to assess the size and productivity of the public sector within the state's broader 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 represents the real, inflation-adjusted GDP contribution of the federal civilian government in Florida. It is a key indicator of the scale and economic significance of federal civil service activities in the state, providing insights into public sector employment, spending, and productivity trends.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Historical Context
Trends in this series are closely monitored by economists, policymakers, and investors to understand the role of the public sector in Florida's overall economic performance.
Key Facts
- Florida's federal civilian GDP was $60.4 billion in 2021.
- This sector accounted for 5.6% of Florida's total real GDP in 2021.
- Federal civilian GDP in Florida has grown by 15% since 2015.
FAQs
Q: What does this economic trend measure?
A: This series measures the real, inflation-adjusted GDP contribution of the federal civilian government sector in the state of Florida.
Q: Why is this trend relevant for users or analysts?
A: Trends in this series provide insights into the size, productivity, and economic significance of the public sector within Florida's broader economy, which is crucial information for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Q: How is this trend used in economic policy?
A: Trends in this series are closely monitored by economists, policymakers, and investors to understand the role of the public sector in Florida's overall economic performance and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 2-3 month delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Federal Civilian in Florida (FLGOVFEDCIVRGSP), retrieved from FRED.