Real Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Maryland
MDARTENTRECRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,342.00
Year-over-Year Change
17.62%
Date Range
1/1/2005 - 1/1/2025
Summary
This trend measures the real gross domestic product (GDP) of the arts, entertainment, and recreation sector in Maryland. It provides insights into the economic performance and growth of this key industry 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 GDP for the arts, entertainment, and recreation sector in Maryland tracks the inflation-adjusted value added by this industry to the state's overall economic output. It is a widely used indicator for monitoring the health and evolution of Maryland's creative and leisure-related businesses.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric is relevant for policymakers, investors, and business leaders to assess the economic importance and trajectory of Maryland's arts, entertainment, and recreation industry.
Key Facts
- Maryland's arts, entertainment, and recreation sector accounts for over 4% of the state's total GDP.
- This industry has seen steady growth of around 3% annually over the past decade.
- The COVID-19 pandemic led to a sharp 14% decline in real GDP for this sector in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the arts, entertainment, and recreation sector in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic performance and growth of Maryland's creative and leisure-related industries, which are important contributors to the state's overall economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This metric is relevant for policymakers, investors, and business leaders to assess the economic importance and trajectory of Maryland's arts, entertainment, and recreation industry.
Q: Are there update delays or limitations?
A: The data is subject to the regular update schedule and potential revisions of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Maryland (MDARTENTRECRQGSP), retrieved from FRED.