Gross Domestic Product: Government and Government Enterprises (92) in Illinois
Quarterly, Seasonally Adjusted Annual Rate
ILGOVNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
108,261.30
Year-over-Year Change
16.51%
Date Range
1/1/2005 - 1/1/2025
Summary
The Quarterly, Seasonally Adjusted Annual Rate (ILGOVNQGSP) measures the growth rate of real gross state product (GSP) for the US government sector on a quarterly basis. This provides an important indicator of economic activity and performance in the 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
This series represents the seasonally adjusted, annualized rate of change in real gross state product for the government sector across the United States. It is a key metric used by economists and policymakers to track the health and productivity of the public sector's economic contribution.
Methodology
The data is collected and calculated by the US Bureau of Economic Analysis using established national accounts frameworks.
Historical Context
Trends in government GSP growth are closely monitored for their implications on fiscal policy, economic stimulus, and public investment decisions.
Key Facts
- Measured in seasonally adjusted annualized rate
- Tracks real growth in government sector GDP
- Used to assess public sector economic performance
FAQs
Q: What does this economic trend measure?
A: The Quarterly, Seasonally Adjusted Annual Rate (ILGOVNQGSP) measures the growth rate of real gross state product (GSP) for the US government sector on a quarterly basis.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the economic health and productivity of the public sector, which is crucial for policymakers and economists in assessing fiscal policy, economic stimulus, and public investment decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the US Bureau of Economic Analysis using established national accounts frameworks.
Q: How is this trend used in economic policy?
A: Trends in government GSP growth are closely monitored for their implications on fiscal policy, economic stimulus, and public investment decisions.
Q: Are there update delays or limitations?
A: The data is reported on a quarterly basis by the US Bureau of Economic Analysis, with typical delays of a few months before the latest figures are available.
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Citation
U.S. Federal Reserve, Quarterly, Seasonally Adjusted Annual Rate (ILGOVNQGSP), retrieved from FRED.