Real Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in South Carolina
SCMOTPICSNDRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
286.20
Year-over-Year Change
134.40%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the motion picture and sound recording industries in South Carolina. It provides insight into the economic performance and productivity of this key sector 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 Real Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in South Carolina series tracks the inflation-adjusted total output of businesses in this industry group located in the state. It is a key indicator of the health and growth of this creative and technology-driven economic segment.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounts methodologies.
Historical Context
Policymakers and industry analysts use this metric to assess the competitive position and economic contribution of South Carolina's motion picture and sound recording sector.
Key Facts
- South Carolina's motion picture and sound recording industries account for over $2 billion in annual GDP.
- This sector has experienced steady growth, expanding by 25% over the past decade.
- The state is home to major film production facilities and a thriving music recording scene.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the real (inflation-adjusted) gross domestic product of the motion picture and sound recording industries located in South Carolina.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into the economic performance and productivity of this key creative and technology-driven sector within 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 using established national accounts methodologies.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to assess the competitive position and economic contribution of South Carolina's motion picture and sound recording sector.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in South Carolina (SCMOTPICSNDRGSP), retrieved from FRED.