Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in Minnesota
MNAMUSENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,951.90
Year-over-Year Change
79.47%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) contribution of the amusement, gambling, and recreation industries in Minnesota. It provides insights into the performance and importance of this sector within the state's economy.
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 GDP for the amusement, gambling, and recreation industries in Minnesota reflects the total economic output and value-added activities of businesses in this sector. It is a key indicator for understanding the relative size and growth of this industry and its role in Minnesota's overall economic landscape.
Methodology
This data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its GDP by industry statistics.
Historical Context
Policymakers and analysts use this trend to assess the economic health and competitive positioning of Minnesota's recreational and entertainment industries.
Key Facts
- Minnesota's amusement, gambling, and recreation GDP was $3.7 billion in 2021.
- This sector accounts for 1.2% of Minnesota's total GDP.
- The industry grew by 4.2% in 2021 compared to the prior year.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contribution of the amusement, gambling, and recreation industries in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the economic performance and importance of Minnesota's recreation and entertainment sector, which is crucial for understanding the state's overall economic landscape.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its GDP by industry statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the competitiveness and growth potential of Minnesota's amusement, gambling, and recreation industries, which can inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in Minnesota (MNAMUSENGSP), retrieved from FRED.