Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Wisconsin
WIGOVQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
106.51
Year-over-Year Change
-1.14%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Wisconsin measures the real economic output of the government sector in the state. This metric is crucial for policymakers to assess the contribution of the public sector to Wisconsin's overall economic performance.
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
This index tracks the volume of goods and services produced by government agencies and enterprises in Wisconsin, adjusted for inflation. It provides a gauge of the government's real economic activity, which is an important component of the state's gross domestic product.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to measure real changes over time.
Historical Context
Economists and policymakers use this index to evaluate the government's role in Wisconsin's economic growth and development.
Key Facts
- The index has a base year of 2012 = 100.
- Government and government enterprises account for approximately 12% of Wisconsin's total GDP.
- The index has shown steady growth over the past decade, reflecting the stable role of the public sector in the state's economy.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the government sector in Wisconsin, including state and local agencies as well as government-owned enterprises.
Q: Why is this trend relevant for users or analysts?
A: The government's economic activity is a crucial component of Wisconsin's overall GDP, and this index provides a clear gauge of the public sector's contribution to the state's economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to measure real changes in government output over time.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to evaluate the role of government in Wisconsin's economic growth and development, which informs decisions on public spending, taxation, and other policy measures.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical lag of 2-3 months. There may be revisions to previous estimates as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Wisconsin (WIGOVQGSP), retrieved from FRED.