Gross Domestic Product: State and Local in Wisconsin
WIGOVSLNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39,411.80
Year-over-Year Change
37.11%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: State and Local in Wisconsin metric measures the economic output of state and local government activities in the state. It is a key indicator for understanding the role of the public sector in 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 series represents the total gross domestic product (GDP) generated by state and local government activities within the state of Wisconsin. It is a crucial measure for analyzing the economic contribution of the public sector and informing policy decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is used by policymakers, economists, and market analysts to assess the fiscal health and economic impact of state and local government in Wisconsin.
Key Facts
- Wisconsin's state and local GDP was $92.7 billion in 2021.
- Government activities account for around 12% of Wisconsin's total economic output.
- The state and local GDP trend has grown by 18% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total gross domestic product (GDP) generated by state and local government activities within the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for understanding the economic role and fiscal health of the public sector in Wisconsin, informing policy decisions and economic analysis.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts use this trend to assess the fiscal impact and economic contribution of state and local government in Wisconsin.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in reflecting the most recent economic conditions.
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Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Wisconsin
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Citation
U.S. Federal Reserve, Gross Domestic Product: State and Local in Wisconsin (WIGOVSLNGSP), retrieved from FRED.