Real Value Added by Industry: Government: State and Local
RVASL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,846.50
Year-over-Year Change
8.50%
Date Range
1/1/2005 - 1/1/2025
Summary
The 'Real Value Added by Industry: Government: State and Local' series measures the inflation-adjusted economic output of state and local government agencies in the United States. This indicator is crucial for understanding the role of the public sector in the broader 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 series represents the real gross value added by state and local government establishments, which include public administration, education, and healthcare services. It is an important measure of the size and productivity of the public sector and is used by economists and policymakers to analyze fiscal and economic trends.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Historical Context
Trends in state and local government value added can inform policy decisions related to public spending, taxation, and the overall role of government in the economy.
Key Facts
- State and local governments account for over 10% of total U.S. GDP.
- Education and healthcare are the largest components of state and local government value added.
- Real value added by state and local governments has grown steadily over the past decade.
FAQs
Q: What does this economic trend measure?
A: This series measures the inflation-adjusted gross value added by state and local government establishments in the United States, providing an indicator of the size and productivity of the public sector.
Q: Why is this trend relevant for users or analysts?
A: Trends in state and local government value added are important for understanding the role of the public sector in the broader economy and can inform policy decisions related to public spending, taxation, and fiscal policy.
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: Analysts and policymakers use this trend to assess the size and productivity of state and local governments, which can inform decisions about public spending, taxation, and the overall role of government in the economy.
Q: Are there update delays or limitations?
A: The data is released quarterly by the Bureau of Economic Analysis, with a delay of approximately 3 months.
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Citation
U.S. Federal Reserve, Real Value Added by Industry: Government: State and Local (RVASL), retrieved from FRED.