Gross Domestic Product: Military in Missouri
MOGOVFEDMILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,290.20
Year-over-Year Change
25.46%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Military in Missouri series measures the total value of military-related economic activity in the state of Missouri. This metric is important for understanding the role of the defense industry in 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 data represents the contribution of military spending and activity to Missouri's gross domestic product. It provides insight into the economic impact of the armed forces and defense-related industries within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is used by policymakers, economists, and defense industry analysts to assess the economic importance of the military in Missouri.
Key Facts
- Missouri's military GDP was $13.2 billion in 2020.
- The military sector accounts for 3.8% of Missouri's total GDP.
- Defense-related industries employ over 100,000 people in Missouri.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of military-related economic activity in the state of Missouri, including defense spending, employment, and related industries.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the role and economic impact of the defense industry within Missouri's overall economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and defense industry analysts use this metric to assess the economic importance of the military in Missouri and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Bureau of Economic Analysis, but may be subject to revision and updates.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Military in Missouri (MOGOVFEDMILNGSP), retrieved from FRED.