Real Gross Domestic Product: Government and Government Enterprises (92) in Pennsylvania
PAGOVRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
71,940.00
Year-over-Year Change
6.54%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real (inflation-adjusted) gross domestic product (GDP) contributed by the government and government enterprises sector in Pennsylvania. It is a key indicator of the public sector's economic activity and contribution to the overall state 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
The Real Gross Domestic Product: Government and Government Enterprises (92) in Pennsylvania series tracks the output and value-added activity of the public sector, including federal, state, and local government, as well as government-owned enterprises. It provides insights into the role of the public sector in Pennsylvania's economic growth and 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
This trend is used by policymakers, economists, and analysts to assess the fiscal and economic conditions in Pennsylvania and help inform policy decisions.
Key Facts
- Pennsylvania's government and government enterprises sector accounts for about 12% of the state's total GDP.
- Real GDP from the public sector in Pennsylvania has grown by an average of 2.5% annually over the past decade.
- Government spending plays a significant role in Pennsylvania's economic performance and policy decisions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) contributed by the government and government enterprises sector in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the role and performance of the public sector in Pennsylvania's economy, which is crucial for policymakers, economists, and analysts to assess fiscal conditions and inform policy decisions.
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: This trend is used by policymakers, economists, and analysts to assess the fiscal and economic conditions in Pennsylvania and help inform policy decisions related to government spending, taxation, and economic development.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Government and Government Enterprises (92) in Pennsylvania (PAGOVRQGSP), retrieved from FRED.