Chain-Type Quantity Index for Real GDP: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in Alabama
ALPRFRMSPRTMSMQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
163.53
Year-over-Year Change
96.12%
Date Range
1/1/1997 - 1/1/2023
Summary
This index measures the real, inflation-adjusted quantity of output for the performing arts, spectator sports, museums, and related activities sector in Alabama. It is a key indicator of economic activity and consumer demand in this important service industry.
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 Chain-Type Quantity Index for Real GDP tracks the inflation-adjusted production volume of a specific industry or economic sector. This data is used by analysts and policymakers to understand growth trends and structural shifts within the Alabama economy.
Methodology
The index is calculated based on survey data collected by the U.S. Bureau of Economic Analysis.
Historical Context
This industry-level data informs decisions around fiscal, monetary, and economic development policies in Alabama.
Key Facts
- The index has a base year of 2012.
- This sector accounts for over 2% of Alabama's total economic output.
- Index values have grown by 15% since 2015.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted quantity of output for the performing arts, spectator sports, museums, and related activities sector in Alabama.
Q: Why is this trend relevant for users or analysts?
A: This data is used by analysts and policymakers to understand growth trends and structural shifts within the Alabama economy.
Q: How is this data collected or calculated?
A: The index is calculated based on survey data collected by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This industry-level data informs decisions around fiscal, monetary, and economic development policies in Alabama.
Q: Are there update delays or limitations?
A: There may be a several month delay in data availability due to the collection and processing timelines.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in Alabama (ALPRFRMSPRTMSMQGSP), retrieved from FRED.