Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in the District of Columbia
DCARTENTRECQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
102.66
Year-over-Year Change
24.05%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in the District of Columbia measures the real output of the arts, entertainment, and recreation sector in the District of Columbia. This trend is important for economists and policymakers to understand the health and growth of the leisure industry in the region.
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 tracks the real, inflation-adjusted output of businesses in the arts, entertainment, and recreation sector within the District of Columbia. It is a valuable indicator of consumer demand and economic activity in this industry, which is a significant contributor to the local economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Historical Context
This trend is used by policymakers and analysts to assess the strength of the District of Columbia's leisure and hospitality industries.
Key Facts
- The index is based on 2012 as the reference year.
- The arts, entertainment, and recreation sector accounts for over 4% of D.C.'s GDP.
- This index has grown by an average of 2.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted output of businesses in the arts, entertainment, and recreation sector within the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator of consumer demand and economic activity in the leisure industry, which is a significant contributor to the local economy in D.C.
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 quantity index methodology.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and analysts to assess the strength of the District of Columbia's leisure and hospitality industries.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in the District of Columbia (DCARTENTRECQGSP), retrieved from FRED.