Real Gross Output of General Government: Intermediate Goods and Services Purchased
W104RL1A225NBEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.30
Year-over-Year Change
-195.83%
Date Range
1/1/1930 - 1/1/2024
Summary
This economic trend measures the real gross output of general government, specifically the intermediate goods and services purchased. It provides insights into the government's role and spending in the broader 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
The Real Gross Output of General Government: Intermediate Goods and Services Purchased tracks the volume of intermediate inputs consumed by the government sector in its production processes. This metric is used by economists to analyze the government's economic footprint and its impact on overall economic activity.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on government spending and procurement records.
Historical Context
This trend is closely monitored by policymakers, analysts, and researchers to assess the government's role in driving economic growth and its influence on various industries.
Key Facts
- The government sector accounts for approximately 17% of U.S. GDP.
- Intermediate goods and services purchased by the government represent about 60% of total government spending.
- This metric is a component of the broader Gross Output statistic, which provides a more comprehensive view of economic activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross output of the general government sector, specifically the volume of intermediate goods and services purchased for use in government production processes.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the government's role and spending patterns within the broader economy, which is crucial for understanding macroeconomic dynamics and the government's impact on various industries.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on government spending and procurement records.
Q: How is this trend used in economic policy?
A: Policymakers, analysts, and researchers closely monitor this trend to assess the government's role in driving economic growth and its influence on various industries, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately two months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Output of General Government: Intermediate Goods and Services Purchased (W104RL1A225NBEA), retrieved from FRED.