Gross Output by Industry: Government (Chain-Type Quantity Index)
GOQIG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
114.23
Year-over-Year Change
6.25%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Output by Industry: Government (Chain-Type Quantity Index) measures the volume of economic activity in the government sector of the U.S. economy. It is a key indicator for economists and policymakers assessing the role of government in overall economic performance.
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 changes in the real output of the government sector, including federal, state, and local government activities. It is used to analyze the contribution of government to GDP growth and identify trends in public sector economic activity.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using chain-type quantity indexes.
Historical Context
Analysts and policymakers monitor this index to gauge the fiscal and economic impacts of government spending and policy decisions.
Key Facts
- The index uses 2012 as the base year.
- The government sector accounts for around 17% of U.S. GDP.
- The index has shown steady growth since the Great Recession.
FAQs
Q: What does this economic trend measure?
A: The Gross Output by Industry: Government (Chain-Type Quantity Index) measures the real volume of economic activity in the government sector of the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator for economists and policymakers to assess the role of government in overall economic performance and analyze the contribution of the public sector to GDP growth.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using chain-type quantity indexes.
Q: How is this trend used in economic policy?
A: Analysts and policymakers monitor this index to gauge the fiscal and economic impacts of government spending and policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Gross Output by Industry: Government (Chain-Type Quantity Index) (GOQIG), retrieved from FRED.