Chain-Type Quantity Index for Real GDP: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in the District of Columbia
DCPRFRMSPRTMSMQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
100.55
Year-over-Year Change
39.13%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the chain-type quantity index for real GDP in the performing arts, spectator sports, museums, and related activities sector in the District of Columbia. It provides insight into the growth and activity levels of these industries in 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 chain-type quantity index tracks changes in the real output of this industry group over time, adjusting for inflation. This metric is used by economists and policymakers to analyze productivity, consumer demand, and broader economic conditions in the District's entertainment and cultural sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This index is a key indicator for monitoring the health and performance of Washington D.C.'s tourism, leisure, and cultural industries.
Key Facts
- This index has a base year of 2012.
- GDP in this sector grew by 3.2% in 2021.
- The index fell 36.4% in 2020 due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in 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 metric provides insight into the growth and activity levels of Washington D.C.'s entertainment and cultural industries, which are important for analyzing economic conditions and productivity in 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: This index is a key indicator for monitoring the health and performance of the District's tourism, leisure, and cultural industries, which are important for economic development and policymaking.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 2-3 month delay.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in the District of Columbia (DCPRFRMSPRTMSMQGSP), retrieved from FRED.