Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in Utah
UTARTENTRECQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
135.36
Year-over-Year Change
81.85%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in Utah measures the real economic output of the arts, entertainment, and recreation industry in 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
This index provides a measure of the volume of goods and services produced by the arts, entertainment, and recreation sector in Utah, adjusted for inflation. It is a key indicator of economic activity and can inform policy decisions and business strategies.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using chain-type quantity indexes.
Historical Context
This metric is used by economists, policymakers, and industry analysts to gauge the health and performance of Utah's arts, entertainment, and recreation sector.
Key Facts
- The index is based on chain-type quantity indexes from the U.S. Bureau of Economic Analysis.
- Utah's arts, entertainment, and recreation sector accounts for a significant portion of the state's GDP.
- Tracking this index can help identify trends and inform policy decisions in the recreation industry.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real economic output of the arts, entertainment, and recreation industry in the state of Utah, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the health and performance of Utah's arts, entertainment, and recreation sector, which is a key component of the state's 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 chain-type quantity indexes.
Q: How is this trend used in economic policy?
A: This index is used by economists, policymakers, and industry analysts to gauge the state of Utah's arts, entertainment, and recreation sector, which can inform policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and revision policies of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in Utah (UTARTENTRECQGSP), retrieved from FRED.