Real Gross Domestic Product: Government and Government Enterprises (92) in North Carolina
NCGOVRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
76,963.90
Year-over-Year Change
8.40%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the government and government enterprises sector in North Carolina. It provides insight into the economic activity and fiscal health of the public sector in the state.
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 Real Gross Domestic Product: Government and Government Enterprises (92) in North Carolina is a metric that tracks the inflation-adjusted economic output of the public sector, including federal, state, and local government agencies as well as government-owned enterprises. It is a key indicator of the size and productivity of the government's role in the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts methodology.
Historical Context
This trend is closely monitored by policymakers, economic analysts, and investors to assess the fiscal condition and economic influence of the government in North Carolina.
Key Facts
- North Carolina's government GDP was $130 billion in 2021.
- The government sector accounts for about 13% of North Carolina's total economic output.
- Real government GDP in North Carolina grew by 2.5% in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the government and government enterprises sector in the state of North Carolina. It provides an indicator of the size and economic activity of the public sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the fiscal health and economic influence of the government in North Carolina. It is closely watched by policymakers, economists, and investors to assess the public sector's role in the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts methodology.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and market analysts to evaluate the fiscal condition and economic impact of the government in North Carolina. It informs decisions around taxation, spending, and regulation within the public sector.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately two months. There may also be revisions to historical data as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Government and Government Enterprises (92) in North Carolina (NCGOVRGSP), retrieved from FRED.