Taxes on production and imports: Local government: Sales taxes: General
L305211A027NBEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
84.86
Year-over-Year Change
72.35%
Date Range
1/1/1959 - 1/1/2016
Summary
This economic trend measures local government sales tax revenue, which is an important indicator of consumer spending and economic activity at the state and local 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
The 'Taxes on production and imports: Local government: Sales taxes: General' series tracks the total amount of sales tax revenue collected by local governments across the United States. This metric provides insight into consumer behavior and the overall health of regional economies.
Methodology
The data is collected and reported by the U.S. Bureau of Economic Analysis.
Historical Context
Local sales tax revenue is closely monitored by policymakers and analysts to assess economic conditions and inform fiscal policy decisions.
Key Facts
- Sales taxes account for approximately 30% of local government revenue in the U.S.
- Local sales tax revenue has grown by an average of 4% annually over the past decade.
- Consumer spending on goods and services subject to sales tax makes up over 40% of GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue collected from sales taxes by local governments across the United States.
Q: Why is this trend relevant for users or analysts?
A: Local sales tax revenue is an important indicator of consumer spending and regional economic conditions, providing valuable insights for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Local sales tax revenue is closely monitored by policymakers to assess economic conditions and inform fiscal policy decisions at the state and local level.
Q: Are there update delays or limitations?
A: The data is reported quarterly with a lag of approximately three months.
Related Trends
Monetary interest paid: Government
W500RC1A027NBEA
Federal government capital transfer payments
W020RC1Q027SBEA
State Government Current transfer payments: Current transfer payments to the rest of the world
LA0000191A027NBEA
Federal government expenditures: Budget outlays
M318191Q027NBEA
Monetary interest received: Government
A2071C1A027NBEA
Financial services furnished without payment: Depositor services: Government
W538RC1A027NBEA
Citation
U.S. Federal Reserve, Taxes on production and imports: Local government: Sales taxes: General (L305211A027NBEA), retrieved from FRED.