Federal Government: National Defense Consumption Expenditures and Gross Investment (FDEFX)
Federal Government: National Defense Consumption Expenditures and Gross Investment — Historical Chart
Free accounts unlock full history back to 1947, plus 260+ indicators, charts, and alerts.
Sign Up FreeUnderstanding Federal Government: National Defense Consumption Expenditures and Gross Investment
Federal Government: National Defense Consumption Expenditures and Gross Investment (FRED series FDEFX) is a quarterly economic growth indicator measured in billions of dollars. The series is published through FRED, the Federal Reserve Bank of St. Louis economic database, with history going back to 1947. Values are seasonally adjusted, smoothing out predictable calendar effects so that underlying trends are easier to see.
Why it matters: Federal Government: National Defense Consumption Expenditures and Gross Investment is one of the indicators traders, economists, and policymakers watch within the economic growth complex. It is a core gauge of economic activity, and sustained changes often mark turning points in the business cycle.
How to read it: focus on the direction and persistence of changes rather than any single quarterly print. Comparing the latest value against its level a year ago, and against its long-run range since 1947, gives a better sense of whether the series is signaling acceleration, deceleration, or a turning point.
About This Series
BEA Account Code: A824RC A Guide to the National Income and Product Accounts of the United States (NIPA) - (http://www.bea.gov/national/pdf/nipaguid.pdf)
Recent Data
| Date | Value (Bil. of $) | Change |
|---|---|---|
| January 1, 2026 | 1,170.6 | +11.41 |
| October 1, 2025 | 1,159.18 | -2.73 |
| July 1, 2025 | 1,161.91 | +26.15 |
| April 1, 2025 | 1,135.77 | +19.15 |
| January 1, 2025 | 1,116.61 | -6.12 |
| October 1, 2024 | 1,122.73 | +18.57 |
| July 1, 2024 | 1,104.16 | +39.82 |
| April 1, 2024 | 1,064.34 | +24.7 |
| January 1, 2024 | 1,039.65 | — |
Frequently Asked Questions
What is Federal Government: National Defense Consumption Expenditures and Gross Investment today?
The latest value of Federal Government: National Defense Consumption Expenditures and Gross Investment (FDEFX) is shown at the top of this page, along with its observation date and the change from the prior reading. Data is sourced from FRED and refreshed regularly.
How often is Federal Government: National Defense Consumption Expenditures and Gross Investment updated?
Federal Government: National Defense Consumption Expenditures and Gross Investment is reported quarterly (Quarterly). New observations appear on FRED shortly after the source agency releases them, and this page updates daily.
What does a rising Federal Government: National Defense Consumption Expenditures and Gross Investment mean?
A sustained rise in Federal Government: National Defense Consumption Expenditures and Gross Investment signals strengthening readings in this economic growth measure, in billions of dollars. Whether that is positive or negative for markets depends on context — compare the move against the series’ trend and related indicators in the same category.
Where does the FDEFX data come from?
The data comes from FRED® (Federal Reserve Economic Data), maintained by the Federal Reserve Bank of St. Louis, under series ID FDEFX. History is available back to 1947.
Related Economic Growth Indicators
- Government Consumption Expenditures and Gross Investment5,416.4
- Real Government Consumption Expenditures and Gross Investment3,999.46
- Gross Domestic Product31,819.46
- Real Gross Domestic Product24,152.66
- Gross Private Domestic Investment5,620.4
- Real Gross Private Domestic Investment4,483.14
- Net Exports of Goods and Services-895.04
- Personal Consumption Expenditures21,979.4
Data sourced from FRED®, Federal Reserve Bank of St. Louis: Federal Government: National Defense Consumption Expenditures and Gross Investment (FDEFX). Retrieved from fred.stlouisfed.org. Last updated May 28, 2026.