Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Arkansas
ARARTENTRECNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,214.40
Year-over-Year Change
47.11%
Date Range
1/1/2005 - 1/1/2025
Summary
This series measures the gross domestic product (GDP) contribution of the arts, entertainment, and recreation sector in Arkansas. It provides insight into the economic importance of this industry within the state.
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 GDP series tracks the value-added output of businesses and organizations in this sector, including performing arts, spectator sports, museums, and recreational activities. It is a key indicator of the role of creative industries in the Arkansas economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using income and production information from businesses and government agencies.
Historical Context
Policymakers and economic development officials use this data to assess the performance and needs of Arkansas's creative economy.
Key Facts
- Arkansas's arts, entertainment, and recreation GDP was $1.7 billion in 2021.
- This sector accounts for 2.1% of the state's total economic output.
- The industry grew by 4.5% in 2021 as the economy recovered from the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This series measures the gross domestic product (GDP) contribution of the arts, entertainment, and recreation sector in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into the economic importance of creative industries within the Arkansas economy, which is useful for policymakers and economic development officials.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using income and production information from businesses and government agencies.
Q: How is this trend used in economic policy?
A: Policymakers and economic development officials use this data to assess the performance and needs of Arkansas's creative economy.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Arkansas (ARARTENTRECNQGSP), retrieved from FRED.