Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Pennsylvania
PAGOVQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
97.35
Year-over-Year Change
-4.55%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Pennsylvania measures the volume of economic output from the government sector in the state. This trend is important for understanding the role of the public sector in Pennsylvania'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 index tracks changes in the real, inflation-adjusted value of goods and services produced by the government and government enterprises in Pennsylvania. It provides insight into the volume of government activity and how it contributes to the state's economic growth.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Historical Context
Policymakers and analysts use this trend to assess the fiscal and economic conditions in Pennsylvania.
Key Facts
- The index is based on 2012 as the reference year.
- Pennsylvania's government sector accounts for approximately 15% of the state's total economic output.
- The index can be used to track the changing role of the public sector in Pennsylvania's economy over time.
FAQs
Q: What does this economic trend measure?
A: This trend measures the volume of real economic output from the government and government enterprises sector in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the role of the public sector in Pennsylvania's overall economic performance, which is useful for policymakers and analysts assessing the state's fiscal and economic conditions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the fiscal and economic conditions in Pennsylvania, including the changing role of the government sector in the state's economy.
Q: Are there update delays or limitations?
A: The data is subject to regular updates by the U.S. Bureau of Economic Analysis, but there may be publication delays due to the comprehensive data collection process.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Pennsylvania (PAGOVQGSP), retrieved from FRED.