Chain-Type Quantity Index for Real GDP: Military in North Carolina
NCGOVFEDMILQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
100.17
Year-over-Year Change
-13.85%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Military in North Carolina measures the volume of economic activity related to military operations in the state. This trend is important for understanding the military's contribution to North Carolina'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 index tracks changes in the real (inflation-adjusted) value of goods and services produced in North Carolina that are associated with the U.S. military. It provides insight into the economic impact of defense spending and military presence in the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach.
Historical Context
Policymakers and analysts use this index to assess the role of the military in North Carolina's economic performance.
Key Facts
- The military accounts for over 10% of North Carolina's GDP.
- Defense spending has grown faster than the overall state economy in recent years.
- North Carolina hosts several major military bases and commands.
FAQs
Q: What does this economic trend measure?
A: This index measures the volume of economic activity related to military operations in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the economic impact of defense spending and military presence in North Carolina, which is important for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the role of the military in North Carolina's economic performance and inform decisions around defense spending and military operations in the state.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Bureau of Economic Analysis, but there may be some publication delays typical of government economic statistics.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Military in North Carolina (NCGOVFEDMILQGSP), retrieved from FRED.