Chain-Type Quantity Index for Real GDP: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in North Carolina
NCARTETRTACCFDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
106.82
Year-over-Year Change
33.91%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the chain-type quantity index for real GDP in the arts, entertainment, recreation, accommodation, and food services sectors in North Carolina. It provides insight into the performance and growth of these key service industries in 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 chain-type quantity index for real GDP tracks the volume of economic output in specific industries, adjusting for inflation. This data helps analysts and policymakers assess the health and trajectory of North Carolina's leisure and hospitality sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting methods.
Historical Context
This economic indicator informs policy decisions and market analysis related to North Carolina's service-based industries.
Key Facts
- North Carolina's arts, entertainment, and recreation sector accounts for over 4% of the state's GDP.
- The accommodation and food services industry employs more than 500,000 people in North Carolina.
- This index has shown steady growth in recent years, reflecting the importance of these service sectors to the state's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in the arts, entertainment, recreation, accommodation, and food services sectors in North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the performance and growth of key service industries in North Carolina, informing policy decisions and market analysis.
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 accounting methods.
Q: How is this trend used in economic policy?
A: This economic indicator informs policy decisions and market analysis related to North Carolina's service-based industries.
Q: Are there update delays or limitations?
A: The data is subject to the standard update schedule and limitations of the U.S. Bureau of Economic Analysis' national accounts.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in North Carolina (NCARTETRTACCFDQGSP), retrieved from FRED.