Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Arkansas
ARMOTPICSNDNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119.80
Year-over-Year Change
17.57%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Arkansas tracks the economic output of this sector 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
This economic trend represents the total value of goods and services produced by the motion picture and sound recording industries in Arkansas. It's an important indicator of the health and growth of this creative economic segment within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is used by policymakers, analysts, and businesses to gauge the performance and trajectory of Arkansas' media and entertainment industries.
Key Facts
- Arkansas' motion picture and sound recording GDP was $291 million in 2021.
- This sector has grown by 18% in Arkansas over the past 5 years.
- It accounts for 0.7% of the state's total economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total economic output, or GDP, of the motion picture and sound recording industries in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and growth of a key creative industry within the Arkansas economy, which is valuable information for policymakers, businesses, and economic analysts.
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 their GDP by industry statistics.
Q: How is this trend used in economic policy?
A: Policymakers and state economic development agencies can use this data to monitor the media and entertainment sector, assess its contribution to the broader economy, and inform decisions around industry support and investment.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis with a lag of several months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Arkansas (ARMOTPICSNDNGSP), retrieved from FRED.