Gross Domestic Product: Federal Civilian in Alabama
ALGOVFEDCIVNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,319.30
Year-over-Year Change
47.01%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Gross Domestic Product: Federal Civilian in Alabama' metric measures the economic output of the federal civilian sector in the state of Alabama. This data point is important for economists and policymakers to understand the role of the public sector in Alabama'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 economic series tracks the gross domestic product (GDP) generated by the federal civilian workforce in Alabama. It provides insight into the size and economic contribution of the federal government's civilian activities within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP reporting.
Historical Context
This metric is used by analysts to assess the fiscal and economic impact of the federal government in Alabama's regional economy.
Key Facts
- Alabama's federal civilian GDP was $13.4 billion in 2021.
- The federal civilian sector accounts for 3.2% of Alabama's total GDP.
- This metric has grown at an average annual rate of 2.5% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The 'Gross Domestic Product: Federal Civilian in Alabama' metric measures the economic output generated by the federal civilian workforce in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This data point is important for understanding the role and impact of the public sector in Alabama's regional economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP reporting.
Q: How is this trend used in economic policy?
A: Analysts use this metric to assess the fiscal and economic impact of the federal government's civilian activities within Alabama.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately three months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Federal Civilian in Alabama (ALGOVFEDCIVNGSP), retrieved from FRED.