Gross Domestic Product: Federal Civilian in the Great Lakes BEA Region
GLAKGOVFEDCIVNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
55,904.40
Year-over-Year Change
57.22%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) contributed by the federal civilian government in the Great Lakes Bureau of Economic Analysis (BEA) region. It provides insight into the economic role of the federal government in this important Midwest economic area.
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: Federal Civilian in the Great Lakes BEA Region trend tracks the economic output and contribution of the federal civilian workforce located in the eight-state Great Lakes region. This data is used by policymakers and analysts to understand the relative size and importance of the federal government's presence in the regional economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP accounts.
Historical Context
This trend is relevant for assessing the economic impact of federal policies and programs within the Great Lakes region.
Key Facts
- The Great Lakes region accounts for over 20% of total U.S. GDP.
- Federal civilian employment makes up around 2% of total regional employment.
- The federal civilian GDP trend has shown modest growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contributed by the federal civilian government workforce located in the eight-state Great Lakes region.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the economic role and importance of the federal government within the Great Lakes regional economy.
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 their regional GDP accounts.
Q: How is this trend used in economic policy?
A: This trend is relevant for assessing the economic impact of federal policies and programs within the Great Lakes region.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months.
Related Trends
Chain-Type Quantity Index for Real GDP: Real Estate (531) in the Great Lakes BEA Region
GLAKREALQGSP
Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in the Great Lakes BEA Region
GLAKHLTHSOCASSQQGSP
Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in the Great Lakes BEA Region
GLAKOTHSERVENQGSP
Real Gross Domestic Product: Administrative and Support Services (561) in the Great Lakes BEA Region
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Chain-Type Quantity Index for Real GDP: Transit and Ground Passenger Transportation (485) in the Great Lakes BEA Region
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Gross Domestic Product: Legal Services (5411) in the Great Lakes BEA Region
GLAKLEGALNGSP
Citation
U.S. Federal Reserve, Gross Domestic Product: Federal Civilian in the Great Lakes BEA Region (GLAKGOVFEDCIVNGSP), retrieved from FRED.