Gross Domestic Product: State and Local in Hawaii
HIGOVSLNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,481.20
Year-over-Year Change
44.99%
Date Range
1/1/1997 - 1/1/2024
Summary
This metric measures the gross domestic product (GDP) of state and local governments in Hawaii. It is a key indicator of the economic activity and fiscal health of state and local public sectors.
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 Hawaii series represents the total economic output of state and local governments within the state of Hawaii. It is used by economists and policymakers to analyze the size and trends of the public sector's contribution to the state's overall economic performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using income, expenditure, and production data from state and local government agencies.
Historical Context
This metric provides insights into the role of state and local governments in Hawaii's economy, which is relevant for fiscal policy, budgeting, and public investment decisions.
Key Facts
- Hawaii's state and local GDP was $39.8 billion in 2021.
- State and local governments account for about 12% of Hawaii's total GDP.
- The public sector's contribution to Hawaii's economy has remained relatively stable over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total economic output or gross domestic product (GDP) of state and local governments within the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the size and role of the public sector in Hawaii's economy, which is relevant for fiscal policy, budgeting, and public investment decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using income, expenditure, and production data from state and local government agencies.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to analyze the contribution of state and local governments to Hawaii's overall economic performance and inform decisions around fiscal policy, budgeting, and public investment.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be a delay in accessing the most recent figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: State and Local in Hawaii (HIGOVSLNGSP), retrieved from FRED.