Real Gross Domestic Product: Federal Civilian in Tennessee
TNGOVFEDCIVRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,692.70
Year-over-Year Change
15.92%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the real gross domestic product (GDP) of the federal civilian sector in Tennessee. It provides important insights into the economic contributions and performance of the federal government in the state.
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
The Real Gross Domestic Product: Federal Civilian in Tennessee series tracks the inflation-adjusted output of the federal civilian sector, which includes federal agencies and organizations located within the state. This metric is widely used by economists and policymakers to analyze the economic footprint and productivity of the public sector at the state level.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting principles.
Historical Context
Trends in federal civilian GDP are closely monitored for their implications on state and local economies, as well as for informing federal spending and workforce policies.
Key Facts
- Tennessee's federal civilian GDP was $15.4 billion in 2021.
- This sector accounts for 2.7% of Tennessee's total economic output.
- Federal civilian GDP has grown 15% in Tennessee over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) generated by the federal civilian sector within the state of Tennessee.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the economic contributions and performance of the public sector in Tennessee, which is crucial for understanding the state's overall economic landscape.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting principles.
Q: How is this trend used in economic policy?
A: Trends in federal civilian GDP are closely monitored for their implications on state and local economies, as well as for informing federal spending and workforce policies.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Federal Civilian in Tennessee (TNGOVFEDCIVRGSP), retrieved from FRED.