Chain-Type Quantity Index for Real GDP: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in North Carolina
NCPRFRMSPRTMSMQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
113.37
Year-over-Year Change
30.56%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the chain-type quantity index for real GDP in the performing arts, spectator sports, museums, and related activities sector in North Carolina. It provides insight into the performance and growth of this important part of 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 chain-type quantity index for real GDP tracks changes in the volume of goods and services produced in a specific industry or sector, adjusting for inflation. This metric is used by economists and policymakers to analyze economic activity and productivity trends in North Carolina's arts, entertainment, and recreation industries.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
This economic indicator helps inform policy decisions and investment strategies related to North Carolina's cultural and recreational sectors.
Key Facts
- This index is measured with a base year of 2012.
- The sector accounts for over 2% of North Carolina's total GDP.
- The index has grown by an average of 3.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in North Carolina's performing arts, spectator sports, museums, and related activities sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and growth of an important part of North Carolina's economy, helping to inform policy decisions and investment strategies related to the state's cultural and recreational sectors.
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 their regional GDP estimates.
Q: How is this trend used in economic policy?
A: This economic indicator helps inform policy decisions and investment strategies related to North Carolina's cultural and recreational sectors.
Q: Are there update delays or limitations?
A: The data is published with a lag, but provides a reliable measure of economic activity in this sector.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in North Carolina (NCPRFRMSPRTMSMQGSP), retrieved from FRED.