Real Gross Domestic Product: Educational Services (61) in Virginia
Annual, Not Seasonally Adjusted
VAEDCATRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,318.60
Year-over-Year Change
-2.13%
Date Range
1/1/1997 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted trend measures the total gross state product (GSP) for the arts, entertainment, and recreation sector in the United States. This metric provides important insights into the economic performance of the leisure and hospitality industry.
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 Annual, Not Seasonally Adjusted trend represents the total value of goods and services produced by the arts, entertainment, and recreation sector at the state level. This data is a key indicator of economic activity and consumer demand in the leisure industry.
Methodology
The Bureau of Economic Analysis (BEA) calculates this metric using data on industry sales, revenue, and production.
Historical Context
Policymakers and analysts monitor this trend to assess the health of the leisure and hospitality sector and its impact on overall economic growth.
Key Facts
- The arts, entertainment, and recreation sector accounts for about 4% of total U.S. gross domestic product.
- This trend showed a 24.3% decline in 2020 due to the COVID-19 pandemic's impact on leisure activities.
- California, New York, and Florida are the states with the largest arts and entertainment economies.
FAQs
Q: What does this economic trend measure?
A: The Annual, Not Seasonally Adjusted trend measures the total gross state product (GSP) for the arts, entertainment, and recreation sector in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the economic performance of the leisure and hospitality industry, which is a key driver of consumer spending and overall economic growth.
Q: How is this data collected or calculated?
A: The Bureau of Economic Analysis (BEA) calculates this metric using data on industry sales, revenue, and production.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to assess the health of the leisure and hospitality sector and its impact on overall economic growth.
Q: Are there update delays or limitations?
A: The data is published annually, and there may be some delay in the release of the most recent figures.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (VAEDCATRGSP), retrieved from FRED.