Real Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in the District of Columbia
DCMOTPICSNDRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
388.00
Year-over-Year Change
36.81%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Real Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in the District of Columbia' measures the inflation-adjusted economic output of this specific industry sector within the District of Columbia. It provides insights into the performance and trends in the local media and entertainment industry.
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 indicator tracks the real, or inflation-adjusted, gross domestic product (GDP) for the motion picture and sound recording industry subsector (NAICS code 512) within the District of Columbia. It is a key metric for understanding the strength and dynamics of this important creative industry at the regional level.
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 gauge the health and competitiveness of the media sector in the District of Columbia.
Key Facts
- The motion picture and sound recording industry is a key part of the District of Columbia's economy.
- This metric provides insight into the performance of the creative media sector in the nation's capital.
- Real GDP data allows for analysis of industry growth trends adjusted for inflation.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real, inflation-adjusted gross domestic product (GDP) for the motion picture and sound recording industry subsector (NAICS code 512) within the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides important insights into the strength and dynamics of the media and entertainment industry in the District of Columbia, a key sector for 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 using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to gauge the health and competitiveness of the media sector in the District of Columbia, which informs economic development strategies.
Q: Are there update delays or limitations?
A: There may be delays in data availability and potential limitations in coverage or scope compared to the overall media industry in the District.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in the District of Columbia (DCMOTPICSNDRGSP), retrieved from FRED.