Gross Domestic Product: Federal Civilian in South Carolina
SCGOVFEDCIVNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,564.50
Year-over-Year Change
75.75%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Federal Civilian in South Carolina measures the economic output of federal civilian activities in the state. This metric is important for understanding the role of the federal government in South Carolina'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 economic trend represents the contribution of federal civilian employment, operations, and spending to the total gross domestic product of South Carolina. It provides insight into the size and influence of the federal government's economic footprint in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using state-level economic accounts.
Historical Context
Policymakers and analysts use this metric to assess the impact of federal activities on South Carolina's economy.
Key Facts
- South Carolina's federal civilian GDP was $13.2 billion in 2021.
- Federal civilian activities account for 4.3% of South Carolina's total GDP.
- The federal civilian GDP in South Carolina has grown by 2.8% annually since 2015.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contribution of federal civilian employment, operations, and spending in the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the role and influence of the federal government in South Carolina's economy, which can inform policy decisions and economic analysis.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using state-level economic accounts.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the impact of federal activities on South Carolina's economy, which can inform decisions about federal spending, investments, and programs in the state.
Q: Are there update delays or limitations?
A: The data is updated annually, and there may be some delays in the release of the most recent figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Federal Civilian in South Carolina (SCGOVFEDCIVNGSP), retrieved from FRED.