Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in Alabama
ALARTENTRECQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
145.70
Year-over-Year Change
49.71%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in Alabama measures the inflation-adjusted economic output of the arts, entertainment, and recreation 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 index provides a gauge of the real economic activity and growth in Alabama's arts, entertainment, and recreation industry. It is a valuable indicator for policymakers and analysts seeking to understand the dynamics of this important component of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level real GDP estimates.
Historical Context
Trends in this index can inform decisions around economic development, tourism, and leisure activities in Alabama.
Key Facts
- The index is based on 2012 as the reference year.
- Alabama's arts, entertainment, and recreation sector accounts for about 2% of the state's total real GDP.
- The index has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted output of Alabama's arts, entertainment, and recreation sector, providing a gauge of real economic activity in this industry.
Q: Why is this trend relevant for users or analysts?
A: Trends in this index are relevant for understanding the performance and growth of Alabama's arts, entertainment, and recreation industry, which is an important component of the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level real GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and analysts can use this index to inform decisions around economic development, tourism, and leisure activities in Alabama.
Q: Are there update delays or limitations?
A: The data is published on a regular basis by the U.S. Bureau of Economic Analysis, with a typical update delay of several months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in Alabama (ALARTENTRECQGSP), retrieved from FRED.