Gross Domestic Product: Military in Pennsylvania
PAGOVFEDMILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,508.60
Year-over-Year Change
22.48%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Military in Pennsylvania measures the economic output related to military and defense activities in the state of Pennsylvania. This data provides insight into the importance of the military sector to 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 series represents the military and defense-related component of Pennsylvania's Gross Domestic Product. It is used by economists and policymakers to analyze the economic impact and importance of military activities within the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
This metric can inform decisions around military spending, infrastructure, and economic development policies in Pennsylvania.
Key Facts
- Pennsylvania has a large military presence, with several major defense contractors and installations.
- The military sector accounts for a significant portion of Pennsylvania's overall economic output.
- Trends in this metric can indicate the health and importance of the military industry in the state.
FAQs
Q: What does this economic trend measure?
A: This metric measures the economic output and activity related to the military and defense industry in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the importance of the military sector to Pennsylvania's economy, which is valuable for policymakers, businesses, and economic analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: This metric can inform decisions around military spending, infrastructure, and economic development policies in Pennsylvania.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedules and potential revisions as other economic indicators published by the U.S. government.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Military in Pennsylvania (PAGOVFEDMILNGSP), retrieved from FRED.