Real Gross Domestic Product: State and Local in Hawaii
HIGOVSLRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,683.60
Year-over-Year Change
2.59%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) produced by state and local governments in Hawaii. It provides insights into the economic activity and spending patterns of Hawaii'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 Real Gross Domestic Product: State and Local in Hawaii metric represents the total economic output generated by Hawaii's state and local governments, adjusted for inflation. It is a key indicator of the fiscal health and economic contribution of the public sector in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established GDP accounting principles.
Historical Context
This trend is widely used by economists, policymakers, and market analysts to assess the economic conditions and policy decisions in Hawaii.
Key Facts
- Hawaii's state and local real GDP was $19.1 billion in 2021.
- Real GDP from Hawaii's state and local governments grew by 1.8% in 2021.
- The public sector accounts for approximately 10% of Hawaii's total real GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) produced by state and local governments in Hawaii. It quantifies the economic activity and spending of the public sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the fiscal health and economic contribution of Hawaii's state and local governments, which is important for understanding the state's overall economic conditions and evaluating policy decisions.
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 GDP accounting principles.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and market analysts use this trend to assess the economic conditions and policy decisions in Hawaii, as the public sector plays a significant role in the state's economy.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several quarters, so there may be delays in accessing the most recent information. Additionally, the data is subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: State and Local in Hawaii (HIGOVSLRGSP), retrieved from FRED.