Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in South Carolina
SCARTENTRECQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
134.85
Year-over-Year Change
35.40%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in South Carolina measures the real output of this industry in the state. It is an important indicator of economic activity and productivity in the entertainment and recreational sectors.
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
This index tracks the inflation-adjusted, chain-weighted volume of goods and services produced by the arts, entertainment, and recreation industry in South Carolina. It provides insight into the growth and performance of this key component of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
Policymakers and analysts use this index to assess the health and trends within South Carolina's entertainment and recreation sectors.
Key Facts
- The index is seasonally adjusted.
- 2022 Q3 index value was 120.23.
- The index has a base year of 2012.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the arts, entertainment, and recreation industry in South Carolina.
Q: Why is this trend relevant for users or analysts?
A: The index provides insight into the growth and performance of a key sector of the state's economy, which is important for policymakers and economic analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the health and trends within South Carolina's entertainment and recreation sectors, which can inform economic and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The index data is released quarterly by the U.S. Bureau of Economic Analysis, so there may be a delay of several months before the most recent quarter's data is available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in South Carolina (SCARTENTRECQGSP), retrieved from FRED.