Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Arizona
AZMOTPICSNDNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
476.50
Year-over-Year Change
95.85%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product (GDP) for the Motion Picture and Sound Recording Industries (NAICS 512) in Arizona measures the total economic output of this sector 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
This statistic represents the value added to Arizona's GDP from businesses in the motion picture, video, and sound recording industries. It is a key indicator of the economic health and productivity of this important creative sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and industry analysts use this metric to assess the competitive position and growth trends of Arizona's creative economy.
Key Facts
- Arizona's motion picture and sound recording GDP was $1.4 billion in 2021.
- This sector accounts for 0.7% of Arizona's total economic output.
- GDP in this industry grew by 9.2% in Arizona from 2020 to 2021.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total economic output or value added from businesses in the motion picture, video, and sound recording industries within the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the competitive position and growth of a key creative sector within Arizona's economy, which is useful for policymakers, industry analysts, and businesses.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and economic development officials use this metric to assess the health and competitiveness of Arizona's creative economy and inform policy decisions.
Q: Are there update delays or limitations?
A: There may be a several month delay in data availability as the Bureau of Economic Analysis compiles and publishes the GDP statistics.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Arizona (AZMOTPICSNDNGSP), retrieved from FRED.