Real Gross Domestic Product: Government and Government Enterprises (92) in Wisconsin
WIGOVRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37,536.50
Year-over-Year Change
8.78%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product: Government and Government Enterprises (92) in Wisconsin measures the total inflation-adjusted economic output of the government sector in the state. This metric is crucial for policymakers to understand the role of the public sector in Wisconsin's economy.
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 series represents the real, inflation-adjusted value of goods and services produced by government entities, including federal, state, and local agencies, in Wisconsin. It is an important indicator of the size and contribution of the public sector to the state's overall economic activity.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Historical Context
Trends in government GDP are closely monitored by economists and policymakers to assess the fiscal health and economic impact of the public sector.
Key Facts
- Government and government enterprises account for approximately 12% of Wisconsin's GDP.
- Real government GDP in Wisconsin has grown by 2.5% on average over the past 5 years.
- The public sector is a major employer in Wisconsin, accounting for over 15% of total state employment.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total real (inflation-adjusted) economic output of government entities, including federal, state, and local agencies, in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: Trends in government GDP are closely monitored by economists and policymakers to assess the fiscal health and economic impact of the public sector in Wisconsin.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers and analysts to understand the role of the public sector in Wisconsin's economy and to inform fiscal and economic policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Federal Reserve with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Government and Government Enterprises (92) in Wisconsin (WIGOVRQGSP), retrieved from FRED.