Real Gross Domestic Product: Accommodation and Food Services (72) in Indiana
INACCOMDRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,560.60
Year-over-Year Change
-0.26%
Date Range
1/1/2005 - 1/1/2025
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 of this important 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 Real Gross Domestic Product: Accommodation and Food Services (72) in Indiana series tracks the inflation-adjusted output of businesses in the accommodation and food services industry within the state. This metric is a key indicator of economic activity and consumer demand in the hospitality sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounts methodologies.
Historical Context
Policymakers and businesses use this trend to monitor the health of Indiana's tourism and hospitality industries.
Key Facts
- Indiana's accommodation and food services industry accounts for over 10% of the state's GDP.
- This sector employs more than 300,000 Hoosiers, making it a major source of jobs.
- Real GDP in Indiana's hospitality industry has grown by over 20% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the accommodation and food services industry in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and health of Indiana's hospitality sector, which is a critical component 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 accounts methodologies.
Q: How is this trend used in economic policy?
A: Policymakers and businesses use this trend to monitor the state of Indiana's tourism and hospitality industries, which inform economic development strategies and investment decisions.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with a short delay to allow for compilation and reporting.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Accommodation and Food Services (72) in Indiana (INACCOMDRQGSP), retrieved from FRED.