Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in Arizona
AZARTENTRECQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
109.14
Year-over-Year Change
39.01%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in Arizona measures the real output of the arts, entertainment, and recreation 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 index provides a comprehensive measure of the economic activity and productivity in Arizona's arts, entertainment, and recreation industry. It is a valuable indicator for understanding the growth and performance of this important service sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
Policymakers and analysts use this index to assess the health and contribution of the arts and entertainment industry to Arizona's overall economic performance.
Key Facts
- The index is referenced with a base year of 2012.
- Arizona's arts and recreation sector accounts for over 3% of the state's total GDP.
- The index has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of Arizona's arts, entertainment, and recreation industry. It provides a comprehensive gauge of productivity and economic activity in this service sector.
Q: Why is this trend relevant for users or analysts?
A: This index is a valuable indicator of the health and performance of Arizona's arts and entertainment industry, which is an important contributor to the state's overall economic activity and employment.
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 chain-type quantity index formula.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the contribution of the arts and recreation sector to Arizona's economic growth, and to inform policy decisions related to supporting and developing this industry.
Q: Are there update delays or limitations?
A: The index data is published on a quarterly basis with a lag of several months, so there may be some delay in accessing the most recent information.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in Arizona (AZARTENTRECQGSP), retrieved from FRED.