Gross Domestic Product: Military in Arkansas
ARGOVFEDMILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,145.00
Year-over-Year Change
10.89%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Gross Domestic Product: Military in Arkansas' metric measures the contribution of military spending to the state's economic output. This trend is important for understanding the role of defense-related industries in Arkansas'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 series represents the military component of Arkansas's gross domestic product, highlighting the economic impact of federal defense spending within the state. Analysts use this data to assess the importance of military-related industries to the state's overall economic performance.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of federal sources.
Historical Context
Policymakers and regional economists monitor this trend to gauge the sensitivity of Arkansas's economy to changes in military spending.
Key Facts
- Arkansas has a large military presence, with several major defense installations.
- The military sector accounts for over 5% of Arkansas's total economic output.
- Defense spending is a significant driver of economic activity in many Arkansas communities.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the contribution of military spending and defense-related industries to Arkansas's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: The military component of Arkansas's GDP is an important indicator of the state's economic dependence on federal defense expenditures.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis compiles this data using various federal sources on military payroll, procurement, and other defense-related spending.
Q: How is this trend used in economic policy?
A: Policymakers and regional economists monitor this metric to assess the sensitivity of Arkansas's economy to changes in military funding and to inform decisions about economic diversification.
Q: Are there update delays or limitations?
A: This data is published quarterly by the U.S. Bureau of Economic Analysis, with typical release lags of 2-3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Military in Arkansas (ARGOVFEDMILNGSP), retrieved from FRED.