Chain-Type Quantity Index for Real GDP: Motion Picture and Sound Recording Industries (512) in Hawaii
HIMOTPICSNDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
87.96
Year-over-Year Change
42.93%
Date Range
1/1/1997 - 1/1/2023
Summary
This index measures the real, inflation-adjusted output of the motion picture and sound recording industries in Hawaii. It is an important indicator of economic activity and productivity in this key sector.
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 for Real GDP tracks the volume of production in specific industries, adjusting for price changes to provide a more accurate measure of real economic output. This series focuses on the motion picture and sound recording industries in Hawaii, offering insights into a major creative and media hub.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using information on industry revenues, employment, and other economic indicators.
Historical Context
Policymakers and analysts use this trend to gauge the health and competitiveness of Hawaii's creative economy.
Key Facts
- Hawaii's motion picture and sound recording industries account for over $1 billion in annual economic output.
- This sector has experienced steady growth over the past decade, outpacing overall state GDP.
- The index tracks real, inflation-adjusted changes in production volume.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the motion picture and sound recording industries in Hawaii. It provides a gauge of production volume and economic activity in this key creative sector.
Q: Why is this trend relevant for users or analysts?
A: This trend offers important insights into the health and competitiveness of Hawaii's creative economy, which is a significant driver of jobs and economic growth in the state.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using information on industry revenues, employment, and other economic indicators.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the performance of Hawaii's creative industries and inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: This data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month lag in reporting.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Motion Picture and Sound Recording Industries (512) in Hawaii (HIMOTPICSNDQGSP), retrieved from FRED.