State and local government gross investment falls during recessions: Real state and local gross investment, 1979Q1–2017Q1 (2009 = 100)
| date | Gross investment |
|---|---|
| 1979Q1 | 40.563 |
| 1979Q2 | 43.677 |
| 1979Q3 | 45.222 |
| 1979Q4 | 46.527 |
| 1980Q1 | 47.483 |
| 1980Q2 | 44.951 |
| 1980Q3 | 42.427 |
| 1980Q4 | 42.141 |
| 1981Q1 | 44.462 |
| 1981Q2 | 40.249 |
| 1981Q3 | 38.416 |
| 1981Q4 | 39.384 |
| 1982Q1 | 37.999 |
| 1982Q2 | 37.93 |
| 1982Q3 | 37.999 |
| 1982Q4 | 39.03 |
| 1983Q1 | 38.186 |
| 1983Q2 | 37.926 |
| 1983Q3 | 39.628 |
| 1983Q4 | 39.41 |
| 1984Q1 | 41.256 |
| 1984Q2 | 42.646 |
| 1984Q3 | 44.532 |
| 1984Q4 | 45.293 |
| 1985Q1 | 46.082 |
| 1985Q2 | 48.426 |
| 1985Q3 | 49.176 |
| 1985Q4 | 48.802 |
| 1986Q1 | 51.087 |
| 1986Q2 | 51.704 |
| 1986Q3 | 52.374 |
| 1986Q4 | 50.9 |
| 1987Q1 | 52.484 |
| 1987Q2 | 52.287 |
| 1987Q3 | 53.09 |
| 1987Q4 | 53.928 |
| 1988Q1 | 53.998 |
| 1988Q2 | 55.991 |
| 1988Q3 | 55.633 |
| 1988Q4 | 57.166 |
| 1989Q1 | 56.974 |
| 1989Q2 | 58.213 |
| 1989Q3 | 58.86 |
| 1989Q4 | 60.776 |
| 1990Q1 | 63.325 |
| 1990Q2 | 62.417 |
| 1990Q3 | 62.54 |
| 1990Q4 | 64.855 |
| 1991Q1 | 64 |
| 1991Q2 | 64.061 |
| 1991Q3 | 64.963 |
| 1991Q4 | 66.105 |
| 1992Q1 | 68.417 |
| 1992Q2 | 66.355 |
| 1992Q3 | 64.386 |
| 1992Q4 | 63.422 |
| 1993Q1 | 63.059 |
| 1993Q2 | 65.36 |
| 1993Q3 | 65.598 |
| 1993Q4 | 66.024 |
| 1994Q1 | 64.516 |
| 1994Q2 | 66.041 |
| 1994Q3 | 68.353 |
| 1994Q4 | 68.575 |
| 1995Q1 | 69.02 |
| 1995Q2 | 70.47 |
| 1995Q3 | 69.498 |
| 1995Q4 | 69.804 |
| 1996Q1 | 69.151 |
| 1996Q2 | 71.153 |
| 1996Q3 | 73.6 |
| 1996Q4 | 77.728 |
| 1997Q1 | 80.098 |
| 1997Q2 | 79.276 |
| 1997Q3 | 77.95 |
| 1997Q4 | 76.369 |
| 1998Q1 | 75.652 |
| 1998Q2 | 79.318 |
| 1998Q3 | 83.484 |
| 1998Q4 | 84.225 |
| 1999Q1 | 85.726 |
| 1999Q2 | 85.812 |
| 1999Q3 | 86.895 |
| 1999Q4 | 89.953 |
| 2000Q1 | 92.631 |
| 2000Q2 | 90.886 |
| 2000Q3 | 91.67 |
| 2000Q4 | 92.799 |
| 2001Q1 | 94.385 |
| 2001Q2 | 100.063 |
| 2001Q3 | 93.103 |
| 2001Q4 | 98.762 |
| 2002Q1 | 100.445 |
| 2002Q2 | 99.296 |
| 2002Q3 | 99.911 |
| 2002Q4 | 100.829 |
| 2003Q1 | 100.077 |
| 2003Q2 | 99.317 |
| 2003Q3 | 102.306 |
| 2003Q4 | 101.313 |
| 2004Q1 | 100.784 |
| 2004Q2 | 101.475 |
| 2004Q3 | 99 |
| 2004Q4 | 97.147 |
| 2005Q1 | 96.688 |
| 2005Q2 | 97.162 |
| 2005Q3 | 96.468 |
| 2005Q4 | 97.874 |
| 2006Q1 | 97.306 |
| 2006Q2 | 99.744 |
| 2006Q3 | 99.379 |
| 2006Q4 | 98.244 |
| 2007Q1 | 98.87 |
| 2007Q2 | 99.755 |
| 2007Q3 | 99.809 |
| 2007Q4 | 100.51 |
| 2008Q1 | 100.029 |
| 2008Q2 | 101.279 |
| 2008Q3 | 101.543 |
| 2008Q4 | 99.489 |
| 2009Q1 | 99.49 |
| 2009Q2 | 101.252 |
| 2009Q3 | 100.952 |
| 2009Q4 | 98.307 |
| 2010Q1 | 95.499 |
| 2010Q2 | 97.957 |
| 2010Q3 | 98.112 |
| 2010Q4 | 95.167 |
| 2011Q1 | 92.295 |
| 2011Q2 | 91.177 |
| 2011Q3 | 90.457 |
| 2011Q4 | 89.972 |
| 2012Q1 | 87.4 |
| 2012Q2 | 86.839 |
| 2012Q3 | 84.649 |
| 2012Q4 | 82.494 |
| 2013Q1 | 82.13 |
| 2013Q2 | 82.581 |
| 2013Q3 | 82.759 |
| 2013Q4 | 81.883 |
| 2014Q1 | 80.788 |
| 2014Q2 | 82.441 |
| 2014Q3 | 82.747 |
| 2014Q4 | 84.042 |
| 2015Q1 | 84.202 |
| 2015Q2 | 87.825 |
| 2015Q3 | 88.254 |
| 2015Q4 | 86.771 |
| 2016Q1 | 90.438 |
| 2016Q2 | 86.583 |
| 2016Q3 | 84.824 |
| 2016Q4 | 86.055 |
| 2017Q1 | 85.256 |
Note: Shaded areas denote recessions.
Source: Bureau of Economic Analysis, “Table 3.9.3. Real Government Consumption Expenditures and Gross Investment, Quantity Indexes”