Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in Arkansas
ARARTENTRECQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
157.37
Year-over-Year Change
70.79%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the quantity index for real GDP in the arts, entertainment, and recreation sector in Arkansas. It provides insights into the economic performance 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 chain-type quantity index for real GDP in the arts, entertainment, and recreation sector in Arkansas tracks the inflation-adjusted output of this industry. It is a key indicator for analyzing the state's economic structure and trends in this service-oriented segment.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index formula.
Historical Context
This metric is used by policymakers, economists, and businesses to assess the health and growth of Arkansas's leisure and hospitality sector.
Key Facts
- The index is based on chained 2012 dollars.
- The series began in 2005 and is updated quarterly.
- The arts, entertainment, and recreation sector accounts for around 3% of Arkansas's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in the arts, entertainment, and recreation sector in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic performance of Arkansas's leisure and hospitality industry, which is an important component of the state's service-oriented economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index formula.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses use this metric to assess the health and growth of Arkansas's arts, entertainment, and recreation sector, which informs economic development strategies.
Q: Are there update delays or limitations?
A: The series is updated quarterly and has been available since 2005.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in Arkansas (ARARTENTRECQGSP), retrieved from FRED.