Real Gross Domestic Product: State and Local in Wisconsin
WIGOVSLRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31,940.90
Year-over-Year Change
-2.98%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of state and local governments in Wisconsin. It is a key indicator of the health and economic activity of the public sector in the state.
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 Gross Domestic Product: State and Local in Wisconsin series tracks the inflation-adjusted total economic output of state and local government entities within the state. It is a valuable metric for assessing the fiscal conditions and economic contributions of the public sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government revenue and expenditure sources.
Historical Context
This trend is used by policymakers, economists, and analysts to gauge the economic performance and fiscal dynamics of the public sector in Wisconsin.
Key Facts
- Wisconsin's state and local GDP was $130 billion in 2021.
- The public sector accounts for over 12% of Wisconsin's total economic output.
- Real state and local GDP in Wisconsin has grown by 18% since 2010.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) generated by state and local government entities within the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the fiscal health and economic contributions 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 a variety of government revenue and expenditure sources.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and analysts use this trend to gauge the performance and fiscal dynamics of the public sector in Wisconsin.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: State and Local in Wisconsin (WIGOVSLRGSP), retrieved from FRED.