Chain-Type Quantity Index for Real GDP: State and Local in Utah
UTGOVSLQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
133.12
Year-over-Year Change
44.93%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: State and Local in Utah measures the inflation-adjusted output of state and local government spending in Utah. This metric is crucial for economists and policymakers to analyze the fiscal health and economic activity of 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
This index tracks the real (inflation-adjusted) value of goods and services produced by Utah's state and local governments. It provides a comprehensive view of the state's public sector economic activity, which is an important indicator for policy decisions and economic forecasting.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar methodology.
Historical Context
Policymakers and analysts use this index to assess the fiscal condition and economic performance of Utah's public sector.
Key Facts
- The index is published quarterly by the U.S. Bureau of Economic Analysis.
- Utah's state and local government spending accounts for over 10% of the state's GDP.
- The index is a crucial indicator of the public sector's contribution to Utah's overall economic performance.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: State and Local in Utah measures the inflation-adjusted output of state and local government spending in the state.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator of the fiscal health and economic activity of Utah's public sector, which is crucial information for policymakers and economic analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar methodology.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the fiscal condition and economic performance of Utah's public sector, which informs policy decisions and economic forecasting.
Q: Are there update delays or limitations?
A: The index is published quarterly by the U.S. Bureau of Economic Analysis, so there may be a short delay in the most recent data.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: State and Local in Utah (UTGOVSLQGSP), retrieved from FRED.