Real Gross Domestic Product: Government and Government Enterprises (92) in Nebraska
Annual, Not Seasonally Adjusted
NEGOVRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16,279.10
Year-over-Year Change
9.68%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' series measures the annual nominal gross state product (GSP) for all U.S. states and territories. This provides a comprehensive overview of economic activity and growth at the state level.
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
Gross state product (GSP) is the state-level equivalent of the national gross domestic product (GDP). The 'Annual, Not Seasonally Adjusted' series offers a standardized, unbiased assessment of economic performance across all U.S. states and territories over time.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use GSP data to evaluate regional economic conditions and formulate targeted policies.
Key Facts
- GSP covers all economic activity within a state's borders.
- Data is reported annually, not seasonally adjusted.
- The series dates back to 1963 for all 50 states and DC.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' series measures the total nominal gross state product (GSP) for each U.S. state and territory on an annual basis.
Q: Why is this trend relevant for users or analysts?
A: GSP data provides a comprehensive picture of economic activity and growth at the state level, which is crucial for policymakers, businesses, and analysts assessing regional economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis, the federal agency responsible for producing official economic statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use GSP data to evaluate regional economic performance, identify growth patterns, and formulate targeted policies and programs to support state-level economic development.
Q: Are there update delays or limitations?
A: The 'Annual, Not Seasonally Adjusted' GSP data is released with a lag of several months, as the Bureau of Economic Analysis compiles and processes the information from various sources.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (NEGOVRGSP), retrieved from FRED.