Chain-Type Quantity Index for Real GDP: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in Ohio
OHPRFRMSPRTMSMQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
109.81
Year-over-Year Change
62.15%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the chain-type quantity index for real GDP in the performing arts, spectator sports, museums, and related activities industry in Ohio. It provides insights into the economic performance and growth of this sector 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 chain-type quantity index for real GDP is a measure of the volume of economic output, adjusted for inflation. This trend specifically focuses on the performing arts, spectator sports, museums, and related activities industry in Ohio, offering a gauge of the sector's contribution to the state's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Federal Reserve based on industry-level GDP information.
Historical Context
This trend is relevant for policymakers, economists, and industry analysts to assess the economic health and growth dynamics of the performing arts, spectator sports, and cultural sectors in Ohio.
Key Facts
- Ohio's performing arts, spectator sports, and museums sector accounts for a significant portion of the state's economic output.
- This industry experienced steady growth in recent years, indicating its importance to Ohio's economy.
- The chain-type quantity index provides a comprehensive measure of the sector's economic performance over time.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in the performing arts, spectator sports, museums, and related activities industry in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the economic performance and growth dynamics of the cultural and entertainment sectors in Ohio, which are important contributors to the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve based on industry-level GDP information.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers, economists, and industry analysts to assess the economic health and growth potential of the performing arts, spectator sports, and cultural sectors in Ohio, which can inform policy decisions and investments.
Q: Are there update delays or limitations?
A: The data is subject to the timely release of industry-level GDP information by the Federal Reserve, which may result in occasional update delays.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in Ohio (OHPRFRMSPRTMSMQGSP), retrieved from FRED.