State and Local Government Current Receipts and Expenditures: Current Expenditures: Interest payments: to persons and business
Y705RC1A027NBEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
260.39
Year-over-Year Change
-6.44%
Date Range
1/1/1929 - 1/1/2024
Summary
This economic trend measures interest payments made by state and local governments to individuals and businesses. It provides insights into the financial obligations and spending patterns of subnational governments.
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 state and local government current expenditures on interest payments track the outlays made by these public entities to service their debt obligations. This metric is useful for analyzing the fiscal health and debt servicing costs of state and local governments.
Methodology
The data is collected through surveys of state and local government financial accounts by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is relevant for assessing the budgetary pressures and debt service burdens faced by state and local governments.
Key Facts
- State and local governments paid $337 billion in interest in 2021.
- Interest payments account for about 5% of total state and local government expenditures.
- Interest costs have risen in recent years due to increased state and local borrowing.
FAQs
Q: What does this economic trend measure?
A: This trend measures the interest payments made by state and local governments to individuals and businesses as part of their current expenditures.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the debt servicing costs and fiscal obligations of subnational governments, which is crucial for assessing their financial health and budgetary pressures.
Q: How is this data collected or calculated?
A: The data is collected through surveys of state and local government financial accounts by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and analysts to evaluate the fiscal sustainability and debt management of state and local governments.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, State and Local Government Current Receipts and Expenditures: Current Expenditures: Interest payments: to persons and business (Y705RC1A027NBEA), retrieved from FRED.