Real Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Delaware
DEARTENTRECRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
447.60
Year-over-Year Change
-21.25%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the arts, entertainment, and recreation industry in Delaware. It provides insight into the performance and contribution of this sector to the state's overall economic activity.
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 Delaware series tracks the inflation-adjusted value added by this industry to the state's GDP. It is a key indicator of the health and growth of the creative and leisure sectors within Delaware's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
This trend is useful for policymakers, businesses, and analysts to understand the economic significance of the arts, entertainment, and recreation industry in Delaware.
Key Facts
- Delaware's arts, entertainment, and recreation industry contributed $1.2 billion to the state's GDP in 2020.
- This sector accounts for approximately 2.3% of Delaware's total economic output.
- The real GDP of this industry in Delaware has grown by 7.5% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the arts, entertainment, and recreation industry in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the performance and economic significance of the creative and leisure sectors within Delaware's economy, which is useful for policymakers, businesses, and analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, businesses, and analysts to understand the economic importance of the arts, entertainment, and recreation industry in Delaware and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the regular update schedule and potential revisions by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Delaware (DEARTENTRECRGSP), retrieved from FRED.