Real Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in North Carolina
NCAMUSERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,277.70
Year-over-Year Change
39.64%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product (GDP) for the Amusement, Gambling, and Recreation Industries (NAICS 713) in North Carolina measures the inflation-adjusted economic output of this sector 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 trend represents the total real value-added production from businesses in the amusement, gambling, and recreation industries in North Carolina. It is an important indicator of economic activity and growth in the state's leisure and hospitality sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP by industry estimates.
Historical Context
Policymakers and businesses use this metric to gauge the performance and outlook for North Carolina's entertainment and tourism industries.
Key Facts
- North Carolina's real GDP for NAICS 713 was $4.9 billion in 2021.
- This sector accounts for 1.2% of the state's total real GDP.
- The industry grew 16.4% in 2021 after a 10.2% decline in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) for the amusement, gambling, and recreation industries (NAICS 713) in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of economic activity and growth in North Carolina's leisure and hospitality sector, which is a key driver 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 as part of their regional GDP by industry estimates.
Q: How is this trend used in economic policy?
A: Policymakers and businesses use this metric to gauge the performance and outlook for North Carolina's entertainment and tourism industries, which inform economic development and fiscal policy decisions.
Q: Are there update delays or limitations?
A: There may be lags of several months between the end of a reference period and the publication of the data, and the estimates are subject to periodic revisions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in North Carolina (NCAMUSERGSP), retrieved from FRED.