Gross Domestic Product: Government and Government Enterprises (92) in North Carolina
Annual, Not Seasonally Adjusted
NCGOVNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
96,280.20
Year-over-Year Change
52.35%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' trend measures total nominal government spending at the national level in the United States. This metric is widely used by economists and policymakers to analyze fiscal policy and the government's role in the 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
The 'Annual, Not Seasonally Adjusted' series represents the total dollar amount of government expenditures, including federal, state, and local spending, on goods, services, and investments. It is a key indicator of the fiscal position and policy stance of the public sector.
Methodology
The data is collected and reported annually by the U.S. Bureau of Economic Analysis.
Historical Context
This economic trend is closely monitored by government agencies, central banks, and market analysts to assess the impact of fiscal policy on economic growth, inflation, and other macroeconomic outcomes.
Key Facts
- Government spending accounts for approximately 38% of U.S. GDP.
- Federal spending makes up around two-thirds of total government expenditures.
- Annual growth in government spending averaged 3.8% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' trend measures the total nominal government spending at the national level in the United States, including federal, state, and local expenditures.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of the government's fiscal position and policy stance, and is closely monitored by economists, policymakers, and market analysts to assess the impact of fiscal policy on the broader economy.
Q: How is this data collected or calculated?
A: The data is collected and reported annually by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Government spending data is used by policymakers, central banks, and analysts to inform fiscal and monetary policy decisions, as well as to evaluate the government's role in supporting or stimulating economic growth.
Q: Are there update delays or limitations?
A: The 'Annual, Not Seasonally Adjusted' data is reported on an annual basis, with a delay of several months, and may be subject to revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (NCGOVNGSP), retrieved from FRED.