Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Rhode Island
RIGOVQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
104.49
Year-over-Year Change
3.51%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Rhode Island measures the real output of the government and government enterprises 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 index provides a measure of the volume of goods and services produced by the government and government enterprises in Rhode Island, adjusted for inflation. It is a key indicator used by economists and policymakers to assess the economic activity and productivity of the public sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Historical Context
This metric is relevant for understanding the role of government in Rhode Island's economic growth and development.
Key Facts
- The index has a base year of 2012.
- The government and government enterprises sector accounts for approximately 13% of Rhode Island's GDP.
- The index can be used to analyze the productivity and efficiency of the public sector.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output of the government and government enterprises sector in Rhode Island's economy, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the role and contribution of the public sector in Rhode Island's economic growth and development.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to assess the economic activity and productivity of the government and government enterprises sector in Rhode Island, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions by the Bureau of Economic Analysis, and there may be lags in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Rhode Island (RIGOVQGSP), retrieved from FRED.