Real Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Nebraska
NEMOTPICSNDRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
63.40
Year-over-Year Change
68.62%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the motion picture and sound recording industries in Nebraska. It provides insight into the economic performance and contribution of this sector to the state's overall economic activity.
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 Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Nebraska series tracks the inflation-adjusted value added by this industry to the state's GDP. It is an important indicator for understanding the health and growth of Nebraska's creative and entertainment sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its comprehensive GDP by state and industry statistics.
Historical Context
Policymakers and industry stakeholders use this trend to monitor the economic conditions and competitiveness of Nebraska's motion picture and sound recording industries.
Key Facts
- Nebraska's motion picture and sound recording industries account for approximately 1.2% of the state's total GDP.
- This sector has experienced an average annual growth rate of 3.5% over the past 10 years.
- The COVID-19 pandemic had a significant negative impact on this industry, with a 15% decline in real GDP in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the motion picture and sound recording industries 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 contribution of Nebraska's creative and entertainment sectors, which is valuable for policymakers, industry stakeholders, and economic analysts.
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 its comprehensive GDP by state and industry statistics.
Q: How is this trend used in economic policy?
A: Policymakers and industry stakeholders use this trend to monitor the economic conditions and competitiveness of Nebraska's motion picture and sound recording industries, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: There may be some delay in the data updates, as the GDP by state and industry statistics are published on a quarterly basis by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Nebraska (NEMOTPICSNDRGSP), retrieved from FRED.