Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Arkansas
ARARTENTRECNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,201.90
Year-over-Year Change
155.67%
Date Range
1/1/1997 - 1/1/2024
Summary
This series measures the gross domestic product (GDP) for the arts, entertainment, and recreation sector in Arkansas. It is an important indicator of economic activity and growth in this key 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 arts, entertainment, and recreation sector includes a wide range of businesses and organizations, from performing arts venues and museums to amusement parks and sports teams. This GDP metric provides insights into the overall health and performance of this crucial part of Arkansas's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and businesses use this metric to understand trends and make informed decisions about investments, regulations, and economic development strategies.
Key Facts
- Arkansas's arts and entertainment GDP was $2.1 billion in 2020.
- This sector accounts for approximately 2.3% of the state's total GDP.
- The arts, entertainment, and recreation industry employs over 30,000 people in Arkansas.
FAQs
Q: What does this economic trend measure?
A: This metric measures the gross domestic product (GDP) for the arts, entertainment, and recreation sector in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and health of a key industry in Arkansas's economy, which can inform business decisions and economic development strategies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and businesses use this metric to understand trends and make informed decisions about investments, regulations, and economic development strategies in the arts, entertainment, and recreation sector.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Bureau of Economic Analysis, but there may be some delays in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Arkansas (ARARTENTRECNGSP), retrieved from FRED.