Chain-Type Quantity Index for Real GDP: State and Local in Connecticut
CTGOVSLQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
94.69
Year-over-Year Change
-7.03%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: State and Local in Connecticut measures the real output of state and local government economic activity in the state. This metric is crucial for assessing the fiscal health and economic performance of Connecticut's 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 Chain-Type Quantity Index for Real GDP: State and Local in Connecticut tracks the volume of goods and services produced by state and local government agencies in the state, adjusted for inflation. This index is a key indicator of the overall productivity and growth of the public sector within Connecticut's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level income and expenditure accounts.
Historical Context
Policymakers and analysts use this index to evaluate the economic contribution of Connecticut's state and local government activities.
Key Facts
- The index is measured with 2012 as the base year.
- State and local government accounts for over 10% of Connecticut's GDP.
- The index has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: State and Local in Connecticut measures the real output or production volume of Connecticut's state and local government agencies, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator of the economic contribution and fiscal health of Connecticut's public sector, providing insights for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level income and expenditure accounts.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to evaluate the economic performance and fiscal conditions of Connecticut's state and local government activities.
Q: Are there update delays or limitations?
A: The data is published quarterly with a delay of approximately 3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: State and Local in Connecticut (CTGOVSLQGSP), retrieved from FRED.