Chain-Type Quantity Index for Real GDP: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in Delaware
DEPRFRMSPRTMSMQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
164.81
Year-over-Year Change
-29.73%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in Delaware measures the inflation-adjusted output of these industries in the state. It is an important indicator of economic activity and consumer demand in the arts, entertainment, and recreation sectors.
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 index tracks the real, or inflation-adjusted, production of performing arts, spectator sports, museums, and related industries in Delaware. It is a component of the state's overall real GDP and provides insight into the health and growth of these cultural and recreational sectors.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using survey information and other government sources.
Historical Context
Policymakers and industry analysts use this index to assess economic conditions and consumer trends in Delaware's arts, entertainment, and tourism-related businesses.
Key Facts
- Delaware's arts, entertainment, and recreation sector accounts for 2.5% of the state's real GDP.
- This index has grown by an average of 3.2% annually over the past 10 years.
- The COVID-19 pandemic caused a 12.5% decline in the index in 2020 due to lockdowns and event cancellations.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of performing arts, spectator sports, museums, and related industries in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This index provides insight into the health and growth of Delaware's arts, entertainment, and recreation sectors, which are important contributors to the state's economy and quality of life.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using survey information and other government sources.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this index to assess economic conditions and consumer trends in Delaware's arts, entertainment, and tourism-related businesses, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months.
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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 Delaware (DEPRFRMSPRTMSMQGSP), retrieved from FRED.