Real Gross Domestic Product: Accommodation and Food Services (72) in Nebraska
NEACCOMDRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,961.00
Year-over-Year Change
3.60%
Date Range
1/1/2005 - 1/1/2025
Summary
This series measures the real gross domestic product (GDP) for the accommodation and food services industry in Nebraska. It provides insight into the economic performance and growth of this crucial sector.
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 real GDP for the accommodation and food services industry in Nebraska is a key indicator of the state's economic activity and consumer demand. It tracks the inflation-adjusted value added by this industry, which is an important component of the overall state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts methodology.
Historical Context
This trend is used by economists, policymakers, and businesses to monitor the health and trajectory of Nebraska's hospitality and tourism sectors.
Key Facts
- Nebraska's accommodation and food services industry accounts for over 10% of the state's GDP.
- This sector has experienced steady growth over the past decade.
- The COVID-19 pandemic significantly impacted this industry in Nebraska.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the accommodation and food services industry in the state of Nebraska.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the economic performance and growth of Nebraska's hospitality and tourism sectors, which are crucial components of the state's overall economy.
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 methodology.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and businesses to monitor the health and trajectory of Nebraska's accommodation and food services industry, which informs economic and tourism-related policies.
Q: Are there update delays or limitations?
A: There may be delays in data reporting due to the comprehensive nature of the GDP calculations, and the data may not fully capture the impact of certain economic events in real-time.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Accommodation and Food Services (72) in Nebraska (NEACCOMDRQGSP), retrieved from FRED.