Real Gross Domestic Product: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in Wisconsin
WIPRFRMSPRTMSMRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,909.20
Year-over-Year Change
40.77%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the performing arts, spectator sports, museums, and related activities sector in Wisconsin. It provides insights into the performance and economic contribution of these cultural and entertainment 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 Real Gross Domestic Product: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in Wisconsin metric tracks the inflation-adjusted output of this industry group, which includes businesses engaged in live performances, sporting events, museums, historical sites, and other related activities. This data is used by policymakers, analysts, and researchers to assess the economic health and trends within Wisconsin's cultural and entertainment sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting methods.
Historical Context
This economic trend is relevant for understanding the role of the arts, culture, and entertainment industries in Wisconsin's overall economic landscape and supporting informed policy decisions.
Key Facts
- Wisconsin's performing arts, spectator sports, and museum sectors account for over $3 billion in real GDP.
- This industry group has experienced steady growth in recent years, outpacing the state's overall economic expansion.
- The performing arts, spectator sports, and museums contribute significantly to Wisconsin's tourism and quality of life.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the performing arts, spectator sports, museums, and related activities sector in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and contribution of Wisconsin's cultural and entertainment industries, which are important for understanding the state's overall economic landscape and supporting informed policy decisions.
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 accounting methods.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, analysts, and researchers to assess the economic health and trends within Wisconsin's arts, culture, and entertainment sectors, which can inform policy decisions and support the growth of these industries.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and methodological updates of the U.S. Bureau of Economic Analysis, which may result in occasional update delays or revisions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in Wisconsin (WIPRFRMSPRTMSMRGSP), retrieved from FRED.