Real Gross Domestic Product: Arts, Entertainment, and Recreation (71) in the District of Columbia
DCARTENTRECRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,231.20
Year-over-Year Change
21.91%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures real gross domestic product (GDP) for the arts, entertainment, and recreation sector in the District of Columbia. It provides insights into the performance and contribution of this key industry within the local economy.
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 Real Gross Domestic Product: Arts, Entertainment, and Recreation (71) in the District of Columbia series tracks the inflation-adjusted output of businesses in the arts, entertainment, and recreation industry. This data is used by economists and policymakers to analyze the economic health and growth trends of the District's leisure and hospitality sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
This trend is relevant for understanding the broader economic conditions and policy decisions affecting the District of Columbia's cultural and tourism industries.
Key Facts
- The arts, entertainment, and recreation sector accounts for over 4% of D.C.'s total GDP.
- This trend experienced a sharp decline during the COVID-19 pandemic due to lockdowns and travel restrictions.
- D.C.'s arts and entertainment industry is a major employer and driver of the local economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) for the arts, entertainment, and recreation sector in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the performance and economic contribution of D.C.'s leisure and hospitality industries, which are key drivers of the local economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding broader economic conditions and informing policy decisions affecting the District of Columbia's cultural and tourism industries.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Arts, Entertainment, and Recreation (71) in the District of Columbia (DCARTENTRECRQGSP), retrieved from FRED.