Real Government Consumption Expenditures and Gross Investment: State and Local: Economic affairs
W655RL1A225NBEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.30
Year-over-Year Change
-275.00%
Date Range
1/1/1960 - 1/1/2023
Summary
This economic indicator measures real government consumption and investment spending at the state and local level, focused specifically on economic affairs expenditures. It provides insight into the scale and trends of public-sector economic activity.
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 Government Consumption Expenditures and Gross Investment: State and Local: Economic affairs series tracks inflation-adjusted government spending on economic development, transportation, and other economic programs at the subnational level. This metric is closely monitored by policymakers and analysts to assess the public sector's role in supporting economic growth.
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 state and local economic affairs spending metric is a key input for evaluating the fiscal and economic policies of subnational governments.
Key Facts
- Spending on economic affairs accounts for 20-25% of total state and local government expenditures.
- This metric has grown by an average of 1.5% annually over the past decade.
- Transportation and infrastructure projects make up the largest share of state and local economic affairs spending.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks real (inflation-adjusted) government consumption and investment spending at the state and local level, specifically focused on economic affairs expenditures such as economic development, transportation, and other economic programs.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the public sector's role in supporting economic growth and development at the subnational level, making it a key input for policymakers and economists analyzing fiscal and economic policies.
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: This state and local economic affairs spending metric is closely monitored by policymakers and analysts to assess the fiscal and economic policies of subnational governments.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months.
Related Trends
Value Added by Industry: Government: Federal
VAF
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State government current receipts: Income receipts on assets: Interest receipts
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Contribution to Percent Change in Real Government Consumption Expenditures and Gross Investment: Gross Investment: Intellectual Property Products: Software
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Contributions to Percent Change in National Defense Consumption Expenditures and Gross Investment: Gross investment: Equipment: Missiles
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Citation
U.S. Federal Reserve, Real Government Consumption Expenditures and Gross Investment: State and Local: Economic affairs (W655RL1A225NBEA), retrieved from FRED.