Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Rhode Island
RIARTENTRECNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
938.10
Year-over-Year Change
74.63%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic indicator measures the gross domestic product (GDP) of the arts, entertainment, and recreation sector in Rhode Island. It provides insight into the economic activity and performance of this key industry within 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 Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Rhode Island series tracks the total value of goods and services produced by businesses in the arts, entertainment, and recreation industry in the state. This metric is used by economists and policymakers to assess the overall health and growth of this sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This GDP metric helps inform economic and policy decisions related to the arts, entertainment, and recreation industry in Rhode Island.
Key Facts
- Rhode Island's arts and entertainment GDP was $1.2 billion in 2021.
- This sector accounts for 2.1% of the state's total economic output.
- The arts and entertainment GDP in Rhode Island grew by 7.2% in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the arts, entertainment, and recreation sector in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the economic performance and growth of a key industry within the Rhode Island 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 accounting principles.
Q: How is this trend used in economic policy?
A: This GDP metric helps inform economic and policy decisions related to the arts, entertainment, and recreation industry in Rhode Island.
Q: Are there update delays or limitations?
A: The data is published on a regular basis by the U.S. Bureau of Economic Analysis, but may be subject to revisions and update delays.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Rhode Island (RIARTENTRECNGSP), retrieved from FRED.