Chain-Type Quantity Index for Real GDP: Federal Civilian in Rhode Island
RIGOVFEDCIVQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
109.29
Year-over-Year Change
22.22%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Federal Civilian in Rhode Island measures the inflation-adjusted output of the federal civilian government sector in the state. This metric is important for economists and policymakers to assess the size and growth of the public sector in Rhode Island'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 index provides a measure of the real output of the federal civilian government in Rhode Island, adjusting for price changes over time. It is a useful indicator of the changing scale and economic contribution of the public sector within the state's GDP.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to measure real GDP at the state level.
Historical Context
Trends in this index can inform policy decisions and budgeting at the state and federal level.
Key Facts
- Rhode Island's federal civilian GDP index was 99.4 in 2021.
- The index has declined by 0.6% annually on average since 2010.
- Federal civilian output accounts for about 2% of Rhode Island's total real GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted output of the federal civilian government sector in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: Tracking the real GDP contribution of the federal civilian government is important for understanding the size and growth of the public sector in Rhode Island'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 chain-weighted approach to measure real GDP at the state level.
Q: How is this trend used in economic policy?
A: Trends in this index can inform policy decisions and budgeting at the state and federal level regarding the public sector's role in Rhode Island's economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, so there may be delays in accessing the most recent information.
Related Trends
Average Weekly Earnings of All Employees: Manufacturing in Rhode Island
SMU44000003000000011A
Chain-Type Quantity Index for Real GDP: Waste Management and Remediation Services (562) in Rhode Island
RIWASTEQGSP
Coefficient for Transportation Carbon Dioxide Emissions, Lubricants for Rhode Island
EMISSCO2CLUACBRIA
All Employees: Financial Activities: Finance and Insurance in Rhode Island
SMS44000005552000001
Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Rhode Island
SMU44000003100000007
All Employees: Retail Trade: Health and Personal Care Retailers in Rhode Island
SMU44000004245600001
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Federal Civilian in Rhode Island (RIGOVFEDCIVQGSP), retrieved from FRED.