Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Minnesota
MNGOVQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
112.36
Year-over-Year Change
10.79%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Minnesota measures the volume of government and government enterprise output in the state. This metric is critical for economists and policymakers to assess the broader economic performance and role of the 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
This index tracks changes in the real (inflation-adjusted) value of goods and services produced by Minnesota's government and government enterprises over time. It provides a more comprehensive measure of the state's public sector economic activity compared to simple expenditure data.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to account for price and quantity changes.
Historical Context
Policymakers and analysts use this index to understand the contribution of the public sector to Minnesota's overall economic growth and development.
Key Facts
- The index is based on the North American Industry Classification System (NAICS).
- Minnesota's government and government enterprises account for over 10% of the state's GDP.
- The index uses 2012 as the base year for inflation adjustment.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted volume of goods and services produced by the government and government enterprises in Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the economic contribution of the public sector in Minnesota, which is crucial for policymakers and economists to assess the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to account for price and quantity changes.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to understand the role of the public sector in Minnesota's economic growth and development, which informs policy decisions and budgetary planning.
Q: Are there update delays or limitations?
A: The index data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay in the most recent figures.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Minnesota (MNGOVQQGSP), retrieved from FRED.