Gross Domestic Product: Government and Government Enterprises (92) in Pennsylvania
Annual, Not Seasonally Adjusted
PAGOVNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
88,652.70
Year-over-Year Change
34.64%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' series measures total government expenditures in the United States. This metric is a key indicator of fiscal policy and government's economic role.
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 data series tracks all spending by federal, state, and local governments, including transfer payments, operating expenses, and gross investment. It is a comprehensive measure of public sector economic activity used by policymakers and analysts.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on government financial records.
Historical Context
Government expenditure trends inform assessments of fiscal policy and the broader economic climate.
Key Facts
- Government spending accounts for over 37% of U.S. GDP.
- Annual government outlays have exceeded $7 trillion in recent years.
- State and local governments contribute over 60% of total public expenditures.
FAQs
Q: What does this economic trend measure?
A: This series tracks total expenditures by federal, state, and local governments in the United States on an annual, non-seasonally adjusted basis.
Q: Why is this trend relevant for users or analysts?
A: Government spending is a crucial component of economic activity and a key indicator of fiscal policy. This data informs assessments of the public sector's role and influence in the broader economy.
Q: How is this data collected or calculated?
A: The data is collected and compiled by the U.S. Bureau of Economic Analysis based on government financial records and accounts.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and analysts use this data to evaluate the government's fiscal stance, the scale of public sector activity, and the broader macroeconomic implications of government expenditures.
Q: Are there update delays or limitations?
A: This annual series is published with a lag of several months. The data does not capture intra-year fluctuations in government spending patterns.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (PAGOVNGSP), retrieved from FRED.