Real Gross Domestic Product: Military in Maine
MEGOVFEDMILRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
352.40
Year-over-Year Change
-47.23%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: Military in Maine' series measures the inflation-adjusted value of economic output associated with the military sector in the state of Maine. This metric is important for understanding the contribution of defense spending to the state's economy.
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 series represents the real, chained dollar value of GDP originating from the federal government's military activities in Maine. It is used by economists and policymakers to analyze the economic impact of the military presence and spending in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their state-level GDP statistics.
Historical Context
This series provides insight into the role of the military-industrial complex in Maine's economy, which is relevant for policy discussions around defense spending and regional economic development.
Key Facts
- Maine has a significant military presence, including major naval and air force bases.
- The military sector accounts for a notable portion of Maine's overall economic output.
- Trends in this series can indicate the relative importance of defense spending to the state's economy.
FAQs
Q: What does this economic trend measure?
A: This series measures the inflation-adjusted value of economic output associated with the military sector in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the contribution of defense spending to Maine's economy and the role of the military-industrial complex in the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their state-level GDP statistics.
Q: How is this trend used in economic policy?
A: This series provides insight into the economic impact of the military presence and spending in Maine, which is relevant for policy discussions around defense spending and regional economic development.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and limitations as the broader state-level GDP statistics published by the BEA.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Military in Maine (MEGOVFEDMILRGSP), retrieved from FRED.