Real Gross Domestic Product: Federal Civilian in South Carolina
SCGOVFEDCIVRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,096.80
Year-over-Year Change
26.59%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: Federal Civilian in South Carolina' series measures the inflation-adjusted output of the federal civilian sector in the state of South Carolina. This metric is important for economists and policymakers to understand the economic contributions and trends within the public sector.
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, or inflation-adjusted, gross domestic product (GDP) specifically for the federal civilian sector in South Carolina. It provides insight into the size and productivity of the federal government's economic footprint in the state, which is a key component of overall state economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using state-level GDP accounting.
Historical Context
This metric is used by policymakers, economists, and market analysts to assess the economic health and trends of the public sector in South Carolina.
Key Facts
- South Carolina's federal civilian GDP was $12.9 billion in 2021.
- This sector accounts for over 4% of the state's total economic output.
- Federal civilian GDP in South Carolina has grown by 14% since 2015.
FAQs
Q: What does this economic trend measure?
A: This series measures the real, inflation-adjusted gross domestic product (GDP) specifically for the federal civilian sector in the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the size and economic contributions of the federal government in South Carolina, which is an important component of the state's overall economic activity and performance.
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 GDP accounting methods.
Q: How is this trend used in economic policy?
A: This series is used by policymakers, economists, and market analysts to assess the economic health and trends of the public sector in South Carolina.
Q: Are there update delays or limitations?
A: The data is published quarterly with a few months' delay, so it may not reflect the most current economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Federal Civilian in South Carolina (SCGOVFEDCIVRGSP), retrieved from FRED.