Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Massachusetts
Annual, Not Seasonally Adjusted
MAGOVQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
101.98
Year-over-Year Change
3.80%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures government spending, one of the key components of GDP. It provides insight into the government's role in driving economic activity.
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 'Annual, Not Seasonally Adjusted' government spending trend shows the total value of government consumption and investment expenditures, a critical indicator of fiscal policy and the public sector's contribution to economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Government spending trends are closely monitored by policymakers, analysts, and investors to assess the government's impact on the broader economy.
Key Facts
- Government spending accounts for over 20% of U.S. GDP.
- Real government spending grew 2.4% in 2022.
- State and local government spending makes up over 60% of total government expenditures.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of government consumption and investment expenditures, a key component of GDP.
Q: Why is this trend relevant for users or analysts?
A: Government spending is a critical indicator of fiscal policy and the public sector's contribution to economic growth, making it closely monitored by policymakers, analysts, and investors.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use government spending trends to assess the government's impact on the broader economy and inform decisions around fiscal policy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (MAGOVQGSP), retrieved from FRED.