Real Gross Domestic Product: Federal Civilian in Minnesota
MNGOVFEDCIVRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,476.80
Year-over-Year Change
22.22%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: Federal Civilian in Minnesota' series measures the inflation-adjusted economic output of the federal civilian sector in the state of Minnesota. This metric provides insight into the contribution of federal government activities to Minnesota's overall economic performance.
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 real (inflation-adjusted) value added by the federal civilian government in Minnesota to the state's gross domestic product (GDP). It is a key indicator of the federal government's economic footprint and role in the Minnesota economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government and economic sources.
Historical Context
Policymakers and economists use this metric to assess the impact of federal civilian activities on Minnesota's economic growth and development.
Key Facts
- Minnesota's real federal civilian GDP was $13.2 billion in 2021.
- This sector accounted for 3.1% of Minnesota's total real GDP in 2021.
- Federal civilian GDP in Minnesota grew by 2.4% from 2020 to 2021.
FAQs
Q: What does this economic trend measure?
A: This series measures the inflation-adjusted value added by the federal civilian government sector to Minnesota's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic impact and role of the federal government in Minnesota, which is useful for policymakers and economists analyzing the state's economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government and economic sources.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the contribution of federal civilian activities to Minnesota's economic growth and development, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be revisions to historical values as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Federal Civilian in Minnesota (MNGOVFEDCIVRGSP), retrieved from FRED.