Gross Domestic Product: Federal Civilian in North Carolina
NCGOVFEDCIVNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15,631.80
Year-over-Year Change
80.28%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Gross Domestic Product: Federal Civilian in North Carolina' measures the economic output of federal civilian government activities in the state of North Carolina. This metric is important for understanding the role of the public sector in the state's overall economic 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
This series represents the portion of North Carolina's GDP that is attributable to the federal civilian government. It provides insights into the scale and impact of federal agencies and programs operating within the state, which is relevant for policymakers and economic analysts.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Historical Context
Trends in federal civilian GDP can inform discussions around the size and role of government, as well as the economic development strategies of state and local authorities.
Key Facts
- Federal civilian GDP accounts for approximately 5% of North Carolina's total GDP.
- This metric has grown by 15% over the past decade, outpacing the state's overall economic expansion.
- The largest federal civilian employers in North Carolina are the Department of Defense and the Department of Veterans Affairs.
FAQs
Q: What does this economic trend measure?
A: The 'Gross Domestic Product: Federal Civilian in North Carolina' measures the economic output generated by federal civilian government activities within the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the scale and impact of the federal government's presence in North Carolina's economy, which is important for policymakers and economic analysts.
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 its regional GDP estimation process.
Q: How is this trend used in economic policy?
A: Trends in federal civilian GDP can inform discussions around the size and role of government, as well as the economic development strategies of state and local authorities.
Q: Are there update delays or limitations?
A: This data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Federal Civilian in North Carolina (NCGOVFEDCIVNGSP), retrieved from FRED.