Gross Domestic Product: Arts, Entertainment, and Recreation (71) in the Great Lakes BEA Region
GLAKARTENTRECNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40,692.40
Year-over-Year Change
40.54%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the gross domestic product (GDP) of the arts, entertainment, and recreation sector in the Great Lakes region of the United States. It provides valuable insights into the performance and contribution of this important industry within the regional economy.
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 Gross Domestic Product: Arts, Entertainment, and Recreation (71) in the Great Lakes BEA Region tracks the economic output of businesses and organizations involved in activities such as performing arts, spectator sports, museums, and recreation. This data is a key indicator of the strength and growth of the creative and leisure industries in the Great Lakes states.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their regional economic accounts.
Historical Context
This trend is widely used by policymakers, economists, and industry analysts to assess the economic health and competitiveness of the arts, entertainment, and recreation sector in the Great Lakes region.
Key Facts
- The Great Lakes region includes Illinois, Indiana, Michigan, Ohio, and Wisconsin.
- The arts, entertainment, and recreation sector accounts for over 4% of the region's total GDP.
- This industry has seen steady growth in the Great Lakes states over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the arts, entertainment, and recreation sector in the Great Lakes region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and contribution of the creative and leisure industries within the Great Lakes regional economy, which is important for policymakers, economists, and industry stakeholders.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their regional economic accounts.
Q: How is this trend used in economic policy?
A: This trend is widely used by policymakers, economists, and industry analysts to assess the economic health and competitiveness of the arts, entertainment, and recreation sector in the Great Lakes region.
Q: Are there update delays or limitations?
A: The data is published regularly by the BEA, but may have some update delays due to the complexity of regional economic accounting.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Arts, Entertainment, and Recreation (71) in the Great Lakes BEA Region (GLAKARTENTRECNQGSP), retrieved from FRED.