Real Gross Domestic Product: Federal Civilian in Rhode Island
RIGOVFEDCIVRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,868.90
Year-over-Year Change
22.23%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: Federal Civilian in Rhode Island' series measures the inflation-adjusted economic output of the federal civilian sector in the state of Rhode Island. This metric provides insight into the role of the federal government in the state's economy.
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 economic indicator represents the real (inflation-adjusted) value of goods and services produced by federal civilian employees in Rhode Island. It is used by economists and policymakers to analyze the contribution of the federal government to the state's economic activity and growth.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using employment and earnings information.
Historical Context
Trends in this series can inform federal spending and policy decisions affecting Rhode Island's economy.
Key Facts
- This series dates back to 1963.
- Federal civilian employment accounts for about 2% of Rhode Island's GDP.
- Real federal civilian GDP in Rhode Island has grown 58% since 2000.
FAQs
Q: What does this economic trend measure?
A: This series measures the inflation-adjusted value of goods and services produced by federal civilian employees in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the role and contribution of the federal government to Rhode Island's economy, which is useful 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 employment and earnings information.
Q: How is this trend used in economic policy?
A: Trends in this series can inform federal spending and policy decisions affecting Rhode Island's economy.
Q: Are there update delays or limitations?
A: This series is updated quarterly with a typical 2-3 month delay.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Federal Civilian in Rhode Island (RIGOVFEDCIVRGSP), retrieved from FRED.