Real Gross Domestic Product: Federal Civilian in North Dakota
NDGOVFEDCIVRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
439.40
Year-over-Year Change
-29.17%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: Federal Civilian in North Dakota' trend measures the inflation-adjusted output of the federal civilian sector in the state of North Dakota. This metric is crucial for analyzing the economic impact of the federal government's activities within the state.
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 real (inflation-adjusted) gross domestic product (GDP) generated by the federal civilian sector, such as federal agencies and offices, within the state of North Dakota. It provides insights into the economic contribution and performance of the federal government's civilian operations in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Historical Context
Policymakers and economists use this trend to assess the influence of federal civilian activities on North Dakota's overall economic performance and development.
Key Facts
- North Dakota's federal civilian GDP was $3.3 billion in 2021.
- The federal civilian sector accounts for about 5% of North Dakota's total GDP.
- This trend has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted gross domestic product (GDP) generated by the federal civilian sector, such as federal agencies and offices, within the state of North Dakota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic impact and performance of the federal government's civilian operations in North Dakota, which is crucial for policymakers and economists analyzing the state's overall economic development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the influence of federal civilian activities on North Dakota's overall economic performance and development.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Federal Reserve and is generally considered reliable, with minimal update delays.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Federal Civilian in North Dakota (NDGOVFEDCIVRGSP), retrieved from FRED.