Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in North Carolina
NCGOVQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
108.75
Year-over-Year Change
1.25%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in North Carolina measures the inflation-adjusted output of the government sector in the state. This metric is important for economists and policymakers to assess the role of the public sector in North Carolina's 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 index tracks the real, price-adjusted value of goods and services produced by the government and government enterprises in North Carolina. It is a key component of the state's overall real GDP, providing insight into the size and growth of the public sector within the broader economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach to account for inflation.
Historical Context
This metric is used by economists, analysts, and policymakers to monitor the public sector's contribution to North Carolina's economic activity and growth.
Key Facts
- North Carolina's government sector accounts for around 12% of the state's real GDP.
- The government index has grown by an average of 2.3% annually over the past decade.
- Public sector output contracted during the 2008-2009 recession but has since returned to steady growth.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in North Carolina measures the inflation-adjusted output of the government sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the size and growth of the public sector's contribution to North Carolina's overall economic performance, which is important for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach to account for inflation.
Q: How is this trend used in economic policy?
A: This index is used by economists, analysts, and policymakers to monitor the public sector's role in North Carolina's economic activity and growth, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in North Carolina (NCGOVQQGSP), retrieved from FRED.