Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Minnesota
MNGOVQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
110.16
Year-over-Year Change
10.98%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Minnesota measures the real output of the government and government enterprises sector in the state. This metric is important for economists and policymakers to analyze the economic activity and productivity of 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 index tracks the real (inflation-adjusted) value of goods and services produced by the government and government enterprises in Minnesota. It provides insights into the size and growth of the public sector's contribution to the state's overall economic output.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Historical Context
This economic indicator is used by policymakers, analysts, and researchers to assess the role of government in Minnesota's economy.
Key Facts
- The index is measured with a base year of 2012.
- Government and government enterprises account for approximately 13% of Minnesota's real GDP.
- The index has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This index measures the real (inflation-adjusted) output of the government and government enterprises sector in Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the size and growth of the public sector's contribution to Minnesota's overall economic output, which is relevant for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Q: How is this trend used in economic policy?
A: This indicator is used by policymakers, analysts, and researchers to assess the role of government in Minnesota's economy and inform economic and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Minnesota (MNGOVQGSP), retrieved from FRED.