Gross Domestic Product: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in the District of Columbia
DCPRFRMSPRTMSMNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,290.70
Year-over-Year Change
86.41%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real GDP output of the performing arts, spectator sports, museums, and related activities sector in the District of Columbia. It provides insights into the health and productivity of the region's cultural and entertainment industries.
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 Gross Domestic Product (GDP) for the performing arts, spectator sports, museums, and related activities sector in the District of Columbia is a key indicator of economic activity and productivity in the region's cultural and entertainment industries. This data helps policymakers and analysts understand the importance and performance of these sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP reporting.
Historical Context
This economic trend is widely used by economists, policymakers, and industry analysts to inform decisions and policies related to the cultural and entertainment sectors in the District of Columbia.
Key Facts
- The performing arts, spectator sports, museums, and related activities sector accounts for approximately 2% of the District of Columbia's total GDP.
- This economic trend has shown steady growth over the past decade, reflecting the region's thriving cultural and entertainment industries.
- The District of Columbia has the highest concentration of these types of establishments per capita among all U.S. states and territories.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real Gross Domestic Product (GDP) output of the performing arts, spectator sports, museums, and related activities sector in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the health and productivity of the cultural and entertainment industries in the District of Columbia, which are key contributors to the region's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP reporting.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and industry analysts to inform decisions and policies related to the cultural and entertainment sectors in the District of Columbia.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for minor delays in publication.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in the District of Columbia (DCPRFRMSPRTMSMNGSP), retrieved from FRED.