Gross Domestic Product: Government and Government Enterprises (92) in Utah
Annual, Not Seasonally Adjusted
UTGOVNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33,114.10
Year-over-Year Change
89.76%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' series measures total government gross output in the United States. This metric is a key indicator of the size and role of the public sector in the economy.
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 data series represents the total value of goods and services produced by federal, state, and local governments in the United States. It is a measure of the overall economic activity and production within the government sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on government expenditure and revenue reporting.
Historical Context
Government output data is used by policymakers, analysts, and researchers to assess the scale and impact of the public sector within the broader economy.
Key Facts
- Annual government output exceeded $3.5 trillion in 2021.
- The public sector accounts for over 15% of total U.S. economic production.
- Government output saw a sharp increase during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' series measures the total value of goods and services produced by the U.S. federal, state, and local governments.
Q: Why is this trend relevant for users or analysts?
A: Government output data is a key indicator of the scale and role of the public sector within the broader economy, informing policy decisions and economic analysis.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on government expenditure and revenue reporting.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and analysts use government output data to assess the size and impact of the public sector, informing decisions on fiscal policy, government spending, and the overall economic landscape.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so the most recent figures may not reflect the current economic situation.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (UTGOVNGSP), retrieved from FRED.