Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in Rhode Island
RIAMUSENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
429.90
Year-over-Year Change
47.88%
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 Rhode Island. It provides insight into the performance and contribution of this important 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 Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in Rhode Island series tracks the total economic output of businesses involved in recreational activities, such as casinos, amusement parks, and performing arts venues. This data is used by economists and policymakers to analyze the health and growth of Rhode Island's leisure and hospitality industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This economic indicator is relevant for understanding consumer spending patterns, tourism trends, and the overall competitiveness of Rhode Island's tourism-dependent industries.
Key Facts
- Rhode Island's amusement and recreation GDP was $785 million in 2021.
- This sector accounts for 1.7% of the state's total economic output.
- GDP in this industry has grown by 8.2% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the amusement, gambling, and recreation industries in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the performance and economic contribution of Rhode Island's leisure and hospitality sector, which is an important driver of the state's 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 established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: This indicator is relevant for understanding consumer spending patterns, tourism trends, and the overall competitiveness of Rhode Island's tourism-dependent industries, which can inform economic development policies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay.
Related Trends
Real Gross Domestic Product: Broadcasting (Except Internet) and Telecommunications (515, 517) in Rhode Island
RIBRDTELERGSP
Industrial Carbon Dioxide Emissions, Petroleum for Rhode Island
EMISSCO2TOTVICPERIA
Housing Inventory: Median Listing Price Year-Over-Year in Rhode Island
MEDLISPRIYYRI
State Tax Collections: T40 Individual Income Taxes for Rhode Island
QTAXT40QTAXCAT3RINO
Real Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Rhode Island
RIMOTPICSNDRGSP
Real Gross Domestic Product: Chemical Manufacturing (325) in Rhode Island
RICHEMMANRGSP
Citation
U.S. Federal Reserve, Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in Rhode Island (RIAMUSENGSP), retrieved from FRED.