Real Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in Illinois
ILAMUSERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,717.30
Year-over-Year Change
58.06%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the amusement, gambling, and recreation industries in Illinois. It provides insight into the performance and economic contribution of this sector 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: Amusement, Gambling, and Recreation Industries (713) in Illinois series tracks the inflation-adjusted output of this specific industry group in the state. It is a key indicator of the overall health and productivity of the recreation and entertainment economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP statistics.
Historical Context
This metric is relevant for understanding Illinois' economic diversification, consumer spending patterns, and tourism trends.
Key Facts
- Illinois' amusement, gambling, and recreation industries accounted for over $10 billion in real GDP in 2021.
- This sector has grown at an average annual rate of 2.5% over the past decade.
- The recreation economy is a major driver of tourism and employment in many Illinois communities.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the real, inflation-adjusted gross domestic product (GDP) of the amusement, gambling, and recreation industries in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the size, growth, and economic contribution of Illinois' recreation and entertainment sector, which is an important part of the state's overall economic activity.
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 statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists can use this metric to assess the performance of Illinois' recreation economy, understand consumer spending patterns, and inform decisions related to tourism, development, and economic diversification.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, so it may not reflect the most recent economic conditions. It also only covers the amusement, gambling, and recreation industries, not the broader entertainment or hospitality sectors.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in Illinois (ILAMUSERGSP), retrieved from FRED.