Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Alabama
ALMOTPICSNDNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
256.50
Year-over-Year Change
168.87%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the Gross Domestic Product (GDP) of the Motion Picture and Sound Recording Industries (NAICS 512) in the state of Alabama. It provides insights into the economic output and performance of this key creative industry sector.
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
The GDP for Motion Picture and Sound Recording Industries (NAICS 512) in Alabama represents the total value of goods and services produced by this industry within the state. This data point is used by economists and policymakers to analyze the health and competitiveness of Alabama's creative media sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established GDP accounting methodologies.
Historical Context
This GDP trend is relevant for understanding the broader economic landscape and policy environment for Alabama's entertainment and media industry.
Key Facts
- Alabama's motion picture and sound recording GDP was $1.3 billion in 2021.
- This industry accounts for 0.7% of Alabama's total GDP.
- GDP in this sector has grown by 12% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) of the Motion Picture and Sound Recording Industries (NAICS 512) within the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the economic performance and competitiveness of Alabama's creative media sector, which is a key part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established GDP accounting methodologies.
Q: How is this trend used in economic policy?
A: This GDP trend is relevant for understanding the broader economic landscape and policy environment for Alabama's entertainment and media industry.
Q: Are there update delays or limitations?
A: The data is published on a regular schedule by the U.S. Federal Reserve, but may have a lag of several months between the reference period and publication.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Alabama (ALMOTPICSNDNGSP), retrieved from FRED.