Real Gross Domestic Product: State and Local in Indiana
INGOVSLRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29,298.60
Year-over-Year Change
12.92%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic indicator measures the real gross domestic product (GDP) generated by state and local governments in Indiana. It provides insights into the economic activity and fiscal health of Indiana's public sector.
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
Real Gross Domestic Product: State and Local in Indiana is a measure of the total economic output produced by state and local government entities within the state of Indiana. It is an important metric for evaluating the role of the public sector in the state's overall economic performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is used by policymakers, economists, and analysts to assess the fiscal and economic conditions in Indiana and inform decision-making on public sector policies and budgets.
Key Facts
- Indiana's state and local government GDP was $40.7 billion in 2021.
- The public sector accounts for approximately 8% of Indiana's total GDP.
- Real state and local government GDP in Indiana has grown by 10% since 2015.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) generated by state and local government entities within the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic activity and fiscal health of Indiana's public sector, which is important for evaluating the role of government in the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and analysts to assess the fiscal and economic conditions in Indiana and inform decision-making on public sector policies and budgets.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly by the Bureau of Economic Analysis, with a release lag of several months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: State and Local in Indiana (INGOVSLRGSP), retrieved from FRED.