Real Government Consumption Expenditures and Gross Investment: Government: Economic affairs
W584RL1A225NBEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.60
Year-over-Year Change
-238.18%
Date Range
1/1/1960 - 1/1/2023
Summary
This economic indicator measures the real, inflation-adjusted government spending on goods and services related to economic affairs, including public administration, economic development, and transportation.
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
Real Government Consumption Expenditures and Gross Investment: Government: Economic Affairs is a key measure of fiscal policy and government economic activity. It captures spending by federal, state, and local governments on services and infrastructure that support the overall economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Historical Context
This indicator provides important insights into the government's role in driving economic growth and development.
Key Facts
- Government economic affairs spending was $2.4 trillion in 2021.
- This indicator has declined from a peak of 10.3% of GDP in 2009 to 10.0% in 2021.
- Real government economic affairs spending grew at an average annual rate of 1.5% from 2012 to 2021.
FAQs
Q: What does this economic trend measure?
A: This indicator measures real government spending on goods and services related to economic affairs, including public administration, economic development, and transportation.
Q: Why is this trend relevant for users or analysts?
A: This measure provides insight into the government's role in supporting economic growth and development through fiscal policy and public investment.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this indicator to assess the government's fiscal stance and its impact on the broader economy.
Q: Are there update delays or limitations?
A: The data is subject to regular revisions by the Bureau of Economic Analysis and may have a delay of several months.
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Citation
U.S. Federal Reserve, Real Government Consumption Expenditures and Gross Investment: Government: Economic affairs (W584RL1A225NBEA), retrieved from FRED.