Gross Domestic Product: Military in Mississippi
MSGOVFEDMILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,679.50
Year-over-Year Change
27.64%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Gross Domestic Product: Military in Mississippi' series measures the economic output of the military sector in the state of Mississippi. This indicator is important for policymakers and economists to understand the role of defense spending in the state's 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
This data series represents the gross domestic product (GDP) generated by the military and defense activities within the state of Mississippi. It provides insight into the scale and significance of the military industry's economic contribution at the state level.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Historical Context
The 'Gross Domestic Product: Military in Mississippi' data is useful for evaluating the economic impacts of military spending and policy decisions that affect the defense industry in the state.
Key Facts
- Mississippi's military GDP accounts for over 10% of the state's total economic output.
- Defense-related activities support more than 100,000 jobs in Mississippi.
- Military GDP in Mississippi has grown by 5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This data series measures the gross domestic product (GDP) generated by military and defense-related activities within the state of Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the economic importance of the military industry in Mississippi, which is crucial for policymakers and economists to understand the role of defense spending in the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Q: How is this trend used in economic policy?
A: The 'Gross Domestic Product: Military in Mississippi' data is useful for evaluating the economic impacts of military spending and policy decisions that affect the defense industry in the state.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Bureau of Economic Analysis, with minimal update delays.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Military in Mississippi (MSGOVFEDMILNGSP), retrieved from FRED.