Gross Domestic Product: Arts, Entertainment, and Recreation (71) in South Carolina
SCARTENTRECNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,836.40
Year-over-Year Change
56.16%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the gross domestic product (GDP) of the arts, entertainment, and recreation industry in South Carolina. It provides insights into the productivity and economic contribution of this important sector.
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 GDP of the arts, entertainment, and recreation industry in South Carolina represents the total value of goods and services produced by this sector within the state's economy. This metric is used by economists and policymakers to track the performance and growth of this industry and its impact on the overall state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of economic surveys and administrative records.
Historical Context
This trend is used to inform economic policies and investment decisions related to the arts, entertainment, and recreation industry in South Carolina.
Key Facts
- South Carolina's arts, entertainment, and recreation GDP was $3.2 billion in 2021.
- This industry accounts for approximately 2% of the state's total economic output.
- The sector has grown by 25% over the past decade in South Carolina.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the arts, entertainment, and recreation industry in the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the productivity and economic contribution of the arts, entertainment, and recreation sector in South Carolina, which is important for understanding the state's overall economic performance and informing 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 a variety of economic surveys and administrative records.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to inform decisions related to the arts, entertainment, and recreation industry in South Carolina, such as investment, regulation, and support policies.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly by the U.S. Bureau of Economic Analysis, but there may be some delays in the release of the most recent figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Arts, Entertainment, and Recreation (71) in South Carolina (SCARTENTRECNQGSP), retrieved from FRED.