Real Gross Domestic Product: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in Delaware
DEPRFRMSPRTMSMRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
160.70
Year-over-Year Change
-29.73%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the performing arts, spectator sports, museums, and related activities sector in Delaware. It provides insights into the economic output and performance of these cultural and entertainment industries within the state.
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: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in Delaware metric tracks the inflation-adjusted economic activity of this industry group. It is a key indicator of the sector's contribution to the overall Delaware economy and can inform policy decisions and business strategies.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of economic indicators and statistical models.
Historical Context
This trend is relevant for policymakers, industry analysts, and businesses seeking to understand the economic performance and market dynamics of Delaware's cultural and entertainment sectors.
Key Facts
- Delaware's performing arts, spectator sports, and museums sector accounts for over 2% of the state's GDP.
- This industry group has seen steady growth in recent years, outpacing the overall state economy.
- The COVID-19 pandemic caused a significant decline in this sector's economic output in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the performing arts, spectator sports, museums, and related activities sector in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and contribution of Delaware's cultural and entertainment industries, which is crucial information for policymakers, businesses, and industry 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 a variety of economic indicators and statistical models.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and industry stakeholders to understand the economic dynamics and market conditions of Delaware's cultural and entertainment sectors, which can inform policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data is subject to the usual release schedules and potential revisions by the U.S. Bureau of Economic Analysis, so there may be some delays in the most recent data.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in Delaware (DEPRFRMSPRTMSMRGSP), retrieved from FRED.