Chain-Type Quantity Index for Real GDP: Accommodation (721) in Arkansas
ARACCOMDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
135.26
Year-over-Year Change
37.90%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Accommodation (721) in Arkansas measures the inflation-adjusted output of the accommodation sector in the state. This metric is important for understanding regional economic performance and activity.
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 index tracks the real, inflation-adjusted gross domestic product (GDP) of the accommodation industry in Arkansas. It provides a measure of the state's economic output in this key sector, which includes hotels, motels, and other lodging establishments.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP reporting.
Historical Context
This metric is used by policymakers, economists, and businesses to analyze the overall health and trends in Arkansas's accommodation and tourism industry.
Key Facts
- Arkansas's accommodation GDP index was 100.8 in 2021.
- The index has increased by 5.8% over the past 5 years.
- Tourism is a major part of Arkansas's economy.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted gross domestic product (GDP) of the accommodation industry in Arkansas, including hotels, motels, and other lodging establishments.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the economic performance and activity of Arkansas's tourism and hospitality 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 as part of its regional GDP reporting.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses use this metric to analyze the overall health and trends in Arkansas's accommodation and tourism industry, which informs economic development and policy decisions.
Q: Are there update delays or limitations?
A: There may be some lag in data availability, as the Bureau of Economic Analysis releases regional GDP information on a periodic basis.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Accommodation (721) in Arkansas (ARACCOMDQGSP), retrieved from FRED.