Gross Domestic Product: Government and Government Enterprises (92) in Rhode Island
RIGOVNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,625.70
Year-over-Year Change
45.53%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the Gross Domestic Product (GDP) of the government and government enterprises sector in the state of Rhode Island. It provides insights into the size and contribution of the public sector to the state's overall economic activity.
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 RIGOVNGSP series represents the GDP originating from government and government enterprises in Rhode Island. This metric is used by policymakers, economists, and analysts to understand the role of the public sector in the state's economy and how it changes over time.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis through their national and regional GDP accounts.
Historical Context
Trends in government GDP can inform policy decisions and analysis of the public sector's economic impact.
Key Facts
- Rhode Island's government GDP was $7.4 billion in 2021.
- The government sector accounts for approximately 10% of Rhode Island's total GDP.
- Government GDP in Rhode Island has grown by 3.2% annually on average over the past 10 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) originating from the government and government enterprises sector in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the size and economic contribution of the public sector in Rhode Island, which is useful for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis through their national and regional GDP accounts.
Q: How is this trend used in economic policy?
A: Trends in government GDP can inform policy decisions and analysis of the public sector's economic impact on the state of Rhode Island.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical lag of 2-3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Government and Government Enterprises (92) in Rhode Island (RIGOVNGSP), retrieved from FRED.