Federal Surplus or Deficit [-] as Percent of Gross Domestic Product
This dataset tracks federal surplus or deficit [-] as percent of gross domestic product over time.
Latest Value
-6.28
Year-over-Year Change
-5.19%
Date Range
1/1/1929 - 1/1/2024
Summary
The Federal Surplus or Deficit as Percent of Gross Domestic Product tracks the fiscal balance of the U.S. government relative to the size of the overall economy. It is an important indicator of the federal government's fiscal health and policy stance.
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 trend represents the federal government's net operating balance as a percentage of GDP. It measures whether the government is running a surplus (spending less than revenue) or a deficit (spending more than revenue) in a given year. The ratio provides context on the scale of the government's fiscal position.
Methodology
The data is calculated from the National Income and Product Accounts compiled by the Bureau of Economic Analysis.
Historical Context
Policymakers and economists closely monitor this trend to assess the sustainability of government finances and the appropriate stance of fiscal policy.
Key Facts
- The U.S. federal government has run deficits in most years since the 1970s.
- Deficits increased sharply during the Great Recession and COVID-19 pandemic.
- The deficit averaged around 3% of GDP from 2010-2019 before spiking to over 15% in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the federal government's net operating balance as a percentage of gross domestic product (GDP). It shows whether the government is running a surplus or a deficit in a given year.
Q: Why is this trend relevant for users or analysts?
A: The federal surplus or deficit relative to GDP is an important indicator of the government's fiscal health and the appropriate stance of fiscal policy. It provides context on the scale of government finances.
Q: How is this data collected or calculated?
A: The data is calculated from the National Income and Product Accounts compiled by the Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this trend to assess the sustainability of government finances and make decisions about the appropriate level of government spending and taxation.
Q: Are there update delays or limitations?
A: The data is published 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, Federal Surplus or Deficit [-] as Percent of Gross Domestic Product (FYFSGDA188S), retrieved from FRED.