Gross Domestic Product: Accommodation and Food Services (72) in Montana
MTACCOMDNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,681.50
Year-over-Year Change
30.35%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Accommodation and Food Services (72) in Montana measures the economic output of the accommodation and food services sector in the state. This trend is an important indicator of consumer spending and business activity within Montana's hospitality industry.
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 Gross Domestic Product: Accommodation and Food Services (72) in Montana represents the total value of goods and services produced by the accommodation and food services sector in the state. This metric is used by economists and policymakers to gauge the overall health and performance of Montana's hospitality industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and administrative records.
Historical Context
This economic trend is closely monitored by businesses, investors, and government agencies to inform policy decisions and market strategies.
Key Facts
- Montana's accommodation and food services sector accounts for over 10% of the state's GDP.
- The trend showed a 20% decline in 2020 due to the COVID-19 pandemic.
- The industry has since rebounded, with growth of 15% in 2021.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Accommodation and Food Services (72) in Montana measures the total economic output of the accommodation and food services sector within the state.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and health of Montana's hospitality industry, which is an important driver 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 based on surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and government agencies closely monitor this trend to inform decisions related to economic development, tourism promotion, and regulatory policies affecting the hospitality industry.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with a lag of several months. There may also be revisions to previously published figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Accommodation and Food Services (72) in Montana (MTACCOMDNQGSP), retrieved from FRED.