Real Government Consumption Expenditures and Gross Investment: State and Local: Education: Libraries and other
W677RL1A225NBEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.10
Year-over-Year Change
-193.94%
Date Range
1/1/1960 - 1/1/2023
Summary
This trend measures real government spending on state and local public libraries and other educational facilities. It is an important indicator of public investment in community resources and 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: Education: Libraries and other series tracks inflation-adjusted spending by state and local governments on public libraries, museums, and other educational facilities. This metric provides insight into the fiscal priorities and resource allocation of sub-national governments.
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
Trends in this metric are closely watched by policymakers and economists to assess the health of state and local public finances and the commitment to community-based educational resources.
Key Facts
- This series dates back to 1947.
- Libraries and other educational facilities account for about 5% of total state and local government spending.
- Real spending on libraries and other facilities has declined in recent decades amid budget constraints.
FAQs
Q: What does this economic trend measure?
A: This trend measures real (inflation-adjusted) government spending by state and local authorities on public libraries, museums, and other community-based educational facilities and infrastructure.
Q: Why is this trend relevant for users or analysts?
A: Trends in this metric provide insight into the fiscal health and priorities of sub-national governments, particularly their commitment to public education and community resources.
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 economists monitor this metric to assess the state of public finances and the allocation of resources to community-based educational infrastructure.
Q: Are there update delays or limitations?
A: There may be lags in data availability, as the metric is part of the broader National Income and Product Accounts published by the Bureau of Economic Analysis.
Related Trends
Contribution to Percent Change in Real Government Consumption Expenditures and Gross Investment: Federal: Nondefense: Gross Investment: Intellectual Property Products: Software
Y068RZ2A224NBEA
Real Government Consumption Expenditures and Gross Investment: General public service
W611RL1A225NBEA
Government capital transfer payments
W069RC1Q027SBEA
Current taxes, contributions for government social insurance, and transfer receipts from the rest of the world: to government
LA0000371A027NBEA
Value Added by Industry: Government: Federal (Chain-Type Price Index)
VAPIF
National defense consumption expenditures: Gross output of general government: Intermediate goods and services purchased: Services: Personnel support
B913RC1Q027SBEA
Citation
U.S. Federal Reserve, Real Government Consumption Expenditures and Gross Investment: State and Local: Education: Libraries and other (W677RL1A225NBEA), retrieved from FRED.