Chain-Type Quantity Index for Real GDP: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in South Carolina
SCARTETRTACCFDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
112.72
Year-over-Year Change
36.89%
Date Range
1/1/1997 - 1/1/2024
Summary
This index measures the real, inflation-adjusted output of the arts, entertainment, recreation, accommodation, and food services sectors in South Carolina. It provides valuable insights into the economic performance of these key industries 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 Chain-Type Quantity Index for Real GDP tracks the production volume of these service-oriented sectors, which are important contributors to South Carolina's economy. Analysts and policymakers use this data to assess economic growth, consumer demand, and industry-specific trends.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted method to adjust for inflation.
Historical Context
This index is a crucial indicator for understanding the state's tourism, hospitality, and leisure sectors.
Key Facts
- The index has a base year of 2012.
- South Carolina's arts, entertainment, and recreation sectors account for over 4% of the state's GDP.
- This index helps track the impact of seasonal factors and major events on these industries.
FAQs
Q: What does this economic trend measure?
A: This index tracks the real, inflation-adjusted output of the arts, entertainment, recreation, accommodation, and food services sectors in South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insights into the economic performance of these key service-oriented industries within the state, which are important contributors to South Carolina's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted method to adjust for inflation.
Q: How is this trend used in economic policy?
A: This index is a crucial indicator for understanding the state's tourism, hospitality, and leisure sectors, which are important for policymakers and analysts assessing South Carolina's economic growth and consumer demand.
Q: Are there update delays or limitations?
A: The data is subject to revision and may have some delay in publication, as is common with many economic indicators.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in South Carolina (SCARTETRTACCFDQGSP), retrieved from FRED.