Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in South Carolina
SCAMUSENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,451.70
Year-over-Year Change
67.19%
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 South Carolina. It provides valuable insights into the 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 SCAMUSENGSP series represents the GDP generated by the amusement, gambling, and recreation industries in South Carolina. This metric is used by economists and policymakers to analyze the growth and importance of the leisure and hospitality sector within the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP reporting.
Historical Context
This trend is closely monitored by state and local officials to understand the impact of tourism, recreation, and entertainment industries on South Carolina's economic development.
Key Facts
- South Carolina's amusement, gambling, and recreation industries account for over 3% of the state's total GDP.
- This sector has experienced steady growth, with an average annual increase of 2.5% over the past decade.
- The tourism and hospitality industry is a major driver of economic activity in many regions of South Carolina.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the amusement, gambling, and recreation industries in the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and importance of the leisure and hospitality sector within South Carolina's economy, which is a key driver of economic activity and growth in the state.
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 comprehensive GDP reporting.
Q: How is this trend used in economic policy?
A: State and local officials closely monitor this trend to understand the impact of tourism, recreation, and entertainment industries on South Carolina's economic development and to inform policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and potential revisions as the overall GDP reporting by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in South Carolina (SCAMUSENGSP), retrieved from FRED.