Gross Domestic Product: State and Local in Mississippi
MSGOVSLNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17,680.10
Year-over-Year Change
43.23%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) generated by state and local governments in Mississippi. It provides insights into the economic activity and fiscal health of the state and local 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
The Gross Domestic Product: State and Local in Mississippi series tracks the total economic output produced by state and local government entities within the state. This metric is useful for analyzing the relative size and contribution of the public sector to the overall state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using surveys and economic modeling.
Historical Context
Policymakers and analysts use this data to evaluate the fiscal position and economic impact of state and local government activity in Mississippi.
Key Facts
- Mississippi's state and local GDP was $37.1 billion in 2021.
- Government spending accounts for about 16% of Mississippi's total economic output.
- State and local GDP grew by 2.5% in Mississippi from 2020 to 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total gross domestic product (GDP) generated by state and local government entities in the state of Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the size and economic contribution of the public sector in Mississippi, which is important for evaluating fiscal policies and the overall state economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to evaluate the fiscal position and economic impact of state and local government activity in Mississippi.
Q: Are there update delays or limitations?
A: The data is typically updated on an annual basis with a lag of several months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: State and Local in Mississippi (MSGOVSLNGSP), retrieved from FRED.