Gross Domestic Product: Military in Oregon
ORGOVFEDMILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
818.80
Year-over-Year Change
28.54%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Gross Domestic Product: Military in Oregon' series measures the economic output of military activities in the state of Oregon. This data is critical for understanding the role of the military sector in the state'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 metric tracks the contribution of federal military spending and activities to Oregon's overall gross domestic product. It provides insight into the economic importance of the defense industry and how changes in military operations impact the state's economic performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
Policymakers and analysts use this metric to evaluate the economic impact of the military presence in Oregon and inform decisions around military base operations and defense spending.
Key Facts
- Oregon's military GDP was $8.2 billion in 2020.
- The military sector accounts for 3.2% of Oregon's total GDP.
- Military GDP in Oregon has grown by 7.5% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the economic output and contribution of federal military spending and activities within the state of Oregon.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for understanding the role of the defense industry in Oregon's economy and how changes in military operations impact 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 established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate the economic impact of the military presence in Oregon and inform decisions around military base operations and defense spending.
Q: Are there update delays or limitations?
A: The data is typically updated on an annual basis, with a lag of several months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Military in Oregon (ORGOVFEDMILNGSP), retrieved from FRED.