Chain-Type Quantity Index for Real GDP: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in Arkansas
ARARTETRTACCFDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
115.71
Year-over-Year Change
27.24%
Date Range
1/1/1997 - 1/1/2024
Summary
This index measures the chain-type quantity index for real GDP in the arts, entertainment, recreation, accommodation, and food services sectors in Arkansas. It provides insight into the economic activity and performance of these key industries in 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 is a measure of the inflation-adjusted output of an economic sector or region. It allows for the analysis of economic growth and changes in productivity over time, adjusting for price changes.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources.
Historical Context
This index is used by economists, policymakers, and industry analysts to assess the economic health and trends in Arkansas's tourism, hospitality, and leisure sectors.
Key Facts
- This index has a base year of 2012.
- The arts, entertainment, recreation, accommodation, and food services sectors account for over 10% of Arkansas's GDP.
- The index has shown steady growth in recent years, indicating a robust performance in these key industries.
FAQs
Q: What does this economic trend measure?
A: This index measures the chain-type quantity index for real GDP in the arts, entertainment, recreation, accommodation, and food services sectors in Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This index provides insight into the economic activity and performance of these key industries in Arkansas, which are important for the state's overall economic health and tourism.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources.
Q: How is this trend used in economic policy?
A: This index is used by economists, policymakers, and industry analysts to assess the economic health and trends in Arkansas's tourism, hospitality, and leisure sectors, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The index is updated regularly by the U.S. Bureau of Economic Analysis, but there may be some delay in the most recent data becoming available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in Arkansas (ARARTETRTACCFDQGSP), retrieved from FRED.