Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in North Carolina
NCAMUSENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,058.00
Year-over-Year Change
115.69%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the Gross Domestic Product (GDP) of the amusement, gambling, and recreation industries in North Carolina. It provides insights into the performance and contribution of this sector to 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 NCAMUSENGSP series represents the GDP generated by amusement, gambling, and recreation businesses in North Carolina. This metric is useful for analyzing the economic health and growth of the leisure and hospitality industry within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Historical Context
Policymakers and economic analysts use this trend to assess the impact of the leisure and entertainment sector on North Carolina's overall economic performance.
Key Facts
- North Carolina's amusement, gambling, and recreation GDP totaled $6.7 billion in 2021.
- This sector accounts for 1.7% of North Carolina's total GDP.
- The industry experienced a 12.4% decline in 2020 due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) generated by the amusement, gambling, and recreation industries in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic performance and contribution of the leisure and hospitality sector in North Carolina, which is important for understanding the state's overall economic growth and development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Q: How is this trend used in economic policy?
A: Policymakers and economic analysts use this trend to assess the impact of the leisure and entertainment industry on North Carolina's overall economic performance and to inform policy decisions related to this sector.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates by the U.S. Bureau of Economic Analysis, and there may be some lag in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in North Carolina (NCAMUSENGSP), retrieved from FRED.