Gross Output by Industry: Government: State and Local (Chain-Type Quantity Index)
GOQIPSL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.30
Year-over-Year Change
155.56%
Date Range
4/1/2005 - 1/1/2025
Summary
The Gross Output by Industry: Government: State and Local (Chain-Type Quantity Index) measures the real output of the state and local government sector in the United States. This metric is a key indicator of economic activity and fiscal health at the subnational level.
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 state and local governments, adjusting for inflation. It provides insight into the spending, investment, and service delivery of non-federal public entities, which are crucial components of the broader economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national accounts methodology.
Historical Context
Policymakers and analysts use this index to monitor the fiscal position and economic contributions of state and local governments.
Key Facts
- The index is based on 2012 as the reference year.
- State and local governments account for over 12% of U.S. GDP.
- The index has remained relatively stable since the Great Recession.
FAQs
Q: What does this economic trend measure?
A: The Gross Output by Industry: Government: State and Local (Chain-Type Quantity Index) measures the real volume of goods and services produced by state and local governments in the United States.
Q: Why is this trend relevant for users or analysts?
A: This index provides insight into the fiscal health and economic contributions of state and local governments, which are crucial components of the broader U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national accounts methodology.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to monitor the fiscal position and economic activities of state and local governments, which informs decisions and policies at the subnational level.
Q: Are there update delays or limitations?
A: The index is updated quarterly with a short lag, providing timely information on state and local government output.
Related Trends
Federal grants-in-aid to state and local governments: Housing and community services
G170661A027NBEA
Value Added by Industry: Government as a Percentage of GDP
VAPGDPG
State and local government current receipts: Income receipts on assets: Interest receipts
B112RC1A027NBEA
Federal grants-in-aid to state and local governments: Health
G170671A027NBEA
Federal government receipts: Coverage differences: Other (NIPA vs. Budget)
M318071A027NBEA
State government saving: Other
W761RC1A027NBEA
Citation
U.S. Federal Reserve, Gross Output by Industry: Government: State and Local (Chain-Type Quantity Index) (GOQIPSL), retrieved from FRED.