Chain-Type Quantity Index for Real GDP: State and Local in South Dakota
SDGOVSLQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
114.14
Year-over-Year Change
19.34%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: State and Local in South Dakota measures the real output of state and local government services in the state. It is an important economic indicator for policymakers and analysts tracking the health of the public sector in South Dakota.
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 index represents the volume of goods and services produced by state and local governments in South Dakota, adjusted for inflation. It is a valuable metric for assessing the scale and productivity of the public sector's economic contributions within the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures and price indices.
Historical Context
This trend is used by economists and policymakers to gauge the relative size and performance of the public sector in South Dakota's broader economy.
Key Facts
- South Dakota's state and local government sector accounts for about 12% of the state's total GDP.
- The index has grown by an average of 2.5% annually over the past decade.
- Real public sector output tends to be less volatile than private industry in South Dakota.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: State and Local in South Dakota measures the real output or production of state and local government services in the state, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insight into the scale and productivity of the public sector's economic contributions within South Dakota, which is valuable information for policymakers, economists, and other stakeholders.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures and price indices.
Q: How is this trend used in economic policy?
A: This index is used by economists and policymakers to gauge the relative size and performance of the public sector in South Dakota's broader economy, informing decisions around government spending, taxation, and public service provision.
Q: Are there update delays or limitations?
A: The index data is published quarterly by the Federal Reserve with a lag of several months, so there may be a delay in accessing the most recent figures.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: State and Local in South Dakota (SDGOVSLQGSP), retrieved from FRED.