Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Hawaii
HIMOTPICSNDNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
329.70
Year-over-Year Change
40.42%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Hawaii' series measures the economic output of Hawaii's motion picture and sound recording industries. This data is crucial for understanding the contribution of this sector to the state's overall economic performance.
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 series tracks the gross domestic product (GDP) specifically for the motion picture and sound recording industries (NAICS code 512) in the state of Hawaii. It provides valuable insights into the size and growth of this important creative industry within the local economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
Policymakers and industry analysts use this data to assess the economic impact and trends in Hawaii's media and entertainment sector.
Key Facts
- Hawaii's motion picture and sound recording GDP was $1.1 billion in 2021.
- This sector accounts for approximately 1.5% of Hawaii's total GDP.
- GDP in this industry has grown by 8.2% annually on average over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) specifically for the motion picture and sound recording industries (NAICS code 512) in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insights into the size and growth of Hawaii's media and entertainment sector, which is an important part of the state'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 using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this data to assess the economic impact and trends in Hawaii's media and entertainment sector, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay in the most recent figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Hawaii (HIMOTPICSNDNGSP), retrieved from FRED.