Contribution to Percent Change in Real Government Consumption Expenditures and Gross Investment: State and Local: Gross Investment: Intellectual Property Products
Y071RZ2A224NBEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.08
Year-over-Year Change
700.00%
Date Range
1/1/1930 - 1/1/2024
Summary
This economic trend measures the contribution of state and local government intellectual property investment to the overall percent change in real government consumption and investment. It is a key indicator for policymakers and economists to analyze the role of public-sector innovation.
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 Contribution to Percent Change in Real Government Consumption Expenditures and Gross Investment: State and Local: Gross Investment: Intellectual Property Products tracks the impact of state and local government spending on research, software, and other intangible assets on broader government economic activity. It provides insight into the public sector's support for knowledge-based capital formation.
Methodology
This data is calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Historical Context
Policymakers and analysts use this metric to assess the public sector's investments in innovation and how they influence overall government economic performance.
Key Facts
- State and local governments account for over 60% of total public-sector investment.
- Intellectual property products make up around 15% of total state and local government investment.
- This metric has shown steady growth over the past decade, reflecting increased public funding for R&D and software.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the contribution of state and local government spending on intellectual property, such as research, software, and other intangible assets, to the overall percent change in real government consumption and investment.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the public sector's support for knowledge-based capital formation, which is crucial for understanding government's role in driving innovation and economic growth.
Q: How is this data collected or calculated?
A: The data is 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 analysts use this metric to assess the public sector's investments in innovation and how they influence overall government economic performance.
Q: Are there update delays or limitations?
A: This data is published quarterly by the Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Bureau of Economic Analysis, Contribution to Percent Change in Real Government Consumption Expenditures and Gross Investment: State and Local: Gross Investment: Intellectual Property Products (Y071RZ2A224NBEA), retrieved from FRED.