Real Gross Domestic Product: Government and Government Enterprises (92) in North Dakota
Annual, Not Seasonally Adjusted
NDGOVRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,339.40
Year-over-Year Change
10.73%
Date Range
1/1/1997 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted series measures nominal government gross output, a broad indicator of government economic activity in the U.S. It is a key measure for understanding the scale and composition of government sector production.
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 government gross output series captures the value of goods and services produced by federal, state, and local governments. It is used by economists and policymakers to analyze the size and role of the public sector in the overall economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis from various government sources.
Historical Context
This metric informs discussions around fiscal policy, public finance, and the government's economic footprint.
Key Facts
- Government gross output reached $3.5 trillion in 2021.
- Federal government accounted for 55% of total government gross output.
- State and local governments contributed the remaining 45%.
FAQs
Q: What does this economic trend measure?
A: The Annual, Not Seasonally Adjusted series measures the total value of goods and services produced by federal, state, and local governments in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the scale and composition of government economic activity, which is crucial for analyzing fiscal policy, public finance, and the government's role in the broader economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis from various government sources.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to inform discussions around the size and role of the public sector, as well as the impact of government spending and production on the overall economy.
Q: Are there update delays or limitations?
A: There may be lags in data availability, as the Bureau of Economic Analysis collects information from multiple government sources. Users should check for the most recent release date when referencing this series.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (NDGOVRGSP), retrieved from FRED.