Real Gross Domestic Product: State and Local in Nebraska
NEGOVSLRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,257.50
Year-over-Year Change
9.76%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: State and Local in Nebraska' metric measures the inflation-adjusted economic output of Nebraska's state and local governments. This data provides insights into the fiscal health and economic contributions 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
This series represents the real (inflation-adjusted) gross domestic product originating from the state and local government sector within the state of Nebraska. It is a key indicator of the size and growth of the public economy and can inform policy discussions around public spending, revenues, and fiscal management.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government revenue and expenditure sources.
Historical Context
Policymakers and analysts use this data to evaluate the role of the public sector in Nebraska's broader economic performance and development.
Key Facts
- Nebraska's state and local real GDP was $31.9 billion in 2021.
- The public sector accounts for around 10% of Nebraska's total economic output.
- Real state and local GDP in Nebraska grew by 1.7% in 2021.
FAQs
Q: What does this economic trend measure?
A: This metric measures the inflation-adjusted gross domestic product originating from the state and local government sector within Nebraska.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the fiscal health and economic contributions of the public sector in Nebraska, which is useful for policymakers and analysts evaluating the role of government in the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government revenue and expenditure sources.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to evaluate the role of the public sector in Nebraska's broader economic performance and development, informing discussions around public spending, revenues, and fiscal management.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and methodological updates of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: State and Local in Nebraska (NEGOVSLRGSP), retrieved from FRED.