Defense Department, Military Prime Contract Awards to U.S. Business Firms for United States
M1531AUSM144NNBR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,518.00
Year-over-Year Change
-15.64%
Date Range
1/1/1951 - 12/1/1956
Summary
This economic trend measures the total value of military prime contract awards made by the U.S. Department of Defense to American businesses. It provides insight into government defense spending and its impact on the domestic economy.
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 Defense Department, Military Prime Contract Awards to U.S. Business Firms for United States indicator tracks the dollar value of prime contracts awarded by the U.S. Department of Defense to American companies. This metric is used by economists and policymakers to analyze trends in federal defense procurement and its broader economic implications.
Methodology
The data is collected directly from the U.S. Department of Defense's procurement records.
Historical Context
This trend is closely monitored by government officials, military analysts, and investors to gauge the state of the defense industry and its influence on the overall economy.
Key Facts
- The U.S. Department of Defense is the largest federal government contractor.
- Defense spending accounts for a significant portion of the U.S. federal budget.
- Military prime contracts support jobs and economic activity across many industries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of military prime contract awards made by the U.S. Department of Defense to American business firms.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into government defense spending and its impact on the domestic economy, which is of interest to economists, policymakers, and investors.
Q: How is this data collected or calculated?
A: The data is collected directly from the U.S. Department of Defense's procurement records.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by government officials, military analysts, and investors to gauge the state of the defense industry and its influence on the overall economy.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Federal Reserve, with typical update delays and limitations inherent to government procurement statistics.
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Citation
U.S. Federal Reserve, Defense Department, Military Prime Contract Awards to U.S. Business Firms for United States (M1531AUSM144NNBR), retrieved from FRED.