Gross Domestic Product: State and Local in Arkansas
ARGOVSLNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16,470.90
Year-over-Year Change
41.36%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) generated by state and local governments in Arkansas. It provides insights into the economic activity and fiscal health of the state and local public sector.
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 Gross Domestic Product: State and Local in Arkansas metric represents the total value of goods and services produced by state and local government entities within the state. It is a key indicator of the size and economic impact of the public sector in Arkansas.
Methodology
This data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and economists analyze this trend to understand the role of government in Arkansas' overall economic performance.
Key Facts
- GDP from state and local governments in Arkansas was $25.9 billion in 2021.
- This trend has grown by an average of 3.2% annually over the past 10 years.
- The public sector accounts for approximately 10% of Arkansas' total GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by state and local government entities within the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the size, growth, and economic impact of the public sector in Arkansas, which is valuable information for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this trend to understand the role of government in Arkansas' overall economic performance and to inform fiscal and budgetary decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 quarter delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: State and Local in Arkansas (ARGOVSLNGSP), retrieved from FRED.