Gross Domestic Product: Government and Government Enterprises (92) in Utah
UTGOVNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34,753.90
Year-over-Year Change
30.92%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Government and Government Enterprises (92) in Utah metric measures the economic output of the government sector in the state. It is a key indicator used by economists and policymakers to understand public sector activity and its 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
This data series represents the total gross domestic product (GDP) generated by government and government enterprises in the state of Utah. It is a component of the broader GDP measure and provides insight into the size and economic influence of the public sector within the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government and private data sources.
Historical Context
Tracking this metric helps inform policy decisions and budgeting at the state level.
Key Facts
- Utah's government GDP was $33.4 billion in 2021.
- The government sector accounts for approximately 13% of Utah's total GDP.
- Utah's government GDP has grown by 25% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total gross domestic product (GDP) generated by the government and government enterprises sector in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: Tracking government GDP is important for understanding the size and economic influence of the public sector within the state, which can inform policy decisions and budgeting.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government and private data sources.
Q: How is this trend used in economic policy?
A: This metric helps state policymakers and economists assess the role of government in the overall state economy and make informed decisions about public spending and investment.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis with a typical 2-3 month lag.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Government and Government Enterprises (92) in Utah (UTGOVNQGSP), retrieved from FRED.