Real Gross Domestic Product: Military in South Carolina
SCGOVFEDMILRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,021.60
Year-over-Year Change
-11.82%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: Military in South Carolina' series measures the real economic output of the military sector in South Carolina. This metric is important for understanding the role of the military in the state's economy and can inform policy decisions.
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 tracks the value of goods and services produced by the military industry in South Carolina, adjusted for inflation. It provides insight into the scale and economic significance of defense-related activities in the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level income and output figures.
Historical Context
Policymakers and analysts use this metric to evaluate the economic impact of the military presence and any changes in defense spending in South Carolina.
Key Facts
- South Carolina has a significant military presence, including several major bases.
- The military sector accounts for a substantial portion of the state's economic output.
- Fluctuations in defense spending can have a notable impact on South Carolina's economy.
FAQs
Q: What does this economic trend measure?
A: This series measures the real gross domestic product (GDP) of the military sector in the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic importance of the military industry in South Carolina and can inform policy decisions related to defense spending and its impact on the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level income and output figures.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate the economic impact of the military presence and any changes in defense spending in South Carolina.
Q: Are there update delays or limitations?
A: The data may be subject to periodic revisions and updates by the collecting agency.
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All Employees: Employment Services in South Carolina
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Military in South Carolina (SCGOVFEDMILRGSP), retrieved from FRED.