Gross Domestic Product: Government and Government Enterprises (92) in Minnesota
MNGOVNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
46,909.90
Year-over-Year Change
56.49%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the Gross Domestic Product (GDP) of government and government enterprises in the state of Minnesota. It provides important insights into the public sector's contribution to the state's economic activity and performance.
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 (GDP) of government and government enterprises in Minnesota represents the total value of goods and services produced by the public sector in the state. This metric is a key indicator of the size and influence of the government's role in the state's economy.
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 market analysts to assess the economic impact of the public sector in Minnesota and inform policy decisions.
Key Facts
- Minnesota's government and government enterprises account for approximately 12% of the state's total GDP.
- The trend has shown steady growth over the past decade, indicating the increasing importance of the public sector in the state's economy.
- Government spending is a significant driver of economic activity and employment in Minnesota.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) of the government and government enterprises sector in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the size and influence of the public sector in Minnesota's economy, which is crucial for policymakers, economists, and market analysts to understand.
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 market analysts to assess the economic impact of the public sector in Minnesota and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for delays due to the comprehensive nature of the calculations.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Government and Government Enterprises (92) in Minnesota (MNGOVNGSP), retrieved from FRED.