Real Gross Domestic Product: Government and Government Enterprises (92) in Maryland
MDGOVRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
87,719.90
Year-over-Year Change
13.52%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the government and government enterprises sector in the state of Maryland. It provides valuable insights into the economic activity and productivity of the public sector within the state.
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 Real Gross Domestic Product: Government and Government Enterprises (92) in Maryland represents the inflation-adjusted value-added output of the government and government enterprises industry in the state. This metric is used by economists and policymakers to analyze the role and performance of the public sector in Maryland's overall economic landscape.
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 relevant for understanding the economic impact of government activities and policies at the state level.
Key Facts
- Maryland's government and government enterprises sector accounts for approximately 12% of the state's total GDP.
- This trend has shown steady growth over the past decade, reflecting the increasing economic importance of the public sector in Maryland.
- The government and government enterprises industry is the third-largest contributor to Maryland's GDP, behind only the finance and health care sectors.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the government and government enterprises sector in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the economic activity and productivity of the public sector within the state of Maryland, which is an important consideration for economists and policymakers.
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 relevant for understanding the economic impact of government activities and policies at the state level, which can inform decision-making by policymakers and analysts.
Q: Are there update delays or limitations?
A: The data is updated on a regular basis by the U.S. Federal Reserve, but may be subject to revisions and may not be available in real-time.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Government and Government Enterprises (92) in Maryland (MDGOVRGSP), retrieved from FRED.