Real Government Consumption Expenditures and Gross Investment: State and Local: Recreation and culture
W672RL1A225NBEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.40
Year-over-Year Change
-133.80%
Date Range
1/1/1960 - 1/1/2023
Summary
This economic trend measures state and local government spending on recreation and cultural activities. It is a key indicator of public investment in quality of life and community infrastructure.
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: Recreation and culture series tracks inflation-adjusted spending by state and local governments on parks, libraries, museums, and other recreational and cultural programs. This metric provides insight into the public sector's support for arts, leisure, and community resources.
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
Analysts and policymakers monitor this trend to assess state and local government priorities and the public resources devoted to quality of life initiatives.
Key Facts
- Recreation and culture spending accounts for around 2% of total state and local government expenditures.
- Spending on parks, libraries, and museums declined during the 2008-2009 recession but has since recovered.
- Per capita state and local recreation spending varies widely across the U.S., from under $100 to over $300 annually.
FAQs
Q: What does this economic trend measure?
A: This trend measures inflation-adjusted spending by state and local governments on recreational and cultural activities, including parks, libraries, museums, and other community resources.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into how state and local governments prioritize public investment in quality of life and community infrastructure, which are important factors for economic development, tourism, and resident satisfaction.
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: Policymakers and analysts monitor this trend to assess state and local government priorities and the public resources devoted to quality of life initiatives, which can impact economic growth, workforce attraction, and community wellbeing.
Q: Are there update delays or limitations?
A: This data is released quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
Related Trends
Contributions to Percent Change in National Defense Consumption Expenditures and Gross Investment: Gross investment: Intellectual property products: Research and development
Y076RN2Q224SBEA
Government Current Receipts
GRECPT
State and local government current tax receipts: Taxes on production and imports: Other
W073RC1Q027SBEA
Real National Defense Gross Investment: Equipment: Other Equipment
B879RL1Q225SBEA
Taxes on production and imports: State government: Sales taxes
A1666C1A027NBEA
Real National Defense Gross Investment: Equipment: Electronics
Y051RX1Q020SBEA
Citation
U.S. Federal Reserve, Real Government Consumption Expenditures and Gross Investment: State and Local: Recreation and culture (W672RL1A225NBEA), retrieved from FRED.