Real Gross Domestic Product: Accommodation and Food Services (72) in Indiana
INACCFDRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,778.20
Year-over-Year Change
16.75%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the real gross domestic product (GDP) of the accommodation and food services industry in Indiana. It provides insights into the economic performance and growth of this key 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 GDP for the accommodation and food services industry in Indiana represents the total value of goods and services produced by this sector, adjusted for inflation. It is a key indicator of economic activity and can inform policymakers and businesses about industry-level trends and growth.
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
This trend is widely used by economists, policymakers, and businesses to analyze the economic health and performance of Indiana's accommodation and food services sector.
Key Facts
- Indiana's accommodation and food services GDP was $8.2 billion in 2021.
- This sector accounts for approximately 2.5% of Indiana's total GDP.
- Real GDP in this industry grew by 3.8% in 2021 after a pandemic-related decline in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the accommodation and food services industry in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and growth of a key sector within the Indiana economy, which is valuable for policymakers, businesses, and economic 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 established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and businesses to analyze the economic health and performance of Indiana's accommodation and food services sector, which can inform policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Accommodation and Food Services (72) in Indiana (INACCFDRGSP), retrieved from FRED.