Chain-Type Quantity Index for Real GDP: Motion Picture and Sound Recording Industries (512) in Alabama
ALMOTPICSNDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
220.55
Year-over-Year Change
173.79%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Motion Picture and Sound Recording Industries (512) in Alabama measures the real output of this sector in the state's economy. This metric is crucial for economists and policymakers to understand the dynamics of a key industry within Alabama's broader economic landscape.
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 tracks the real, inflation-adjusted production output of the motion picture and sound recording industries in Alabama. It serves as an important indicator of the performance and contribution of this sector to the state's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Historical Context
This trend is used by economists, industry analysts, and policymakers to assess the health and trajectory of Alabama's motion picture and sound recording industries.
Key Facts
- The index is referenced to 2012 as the base year.
- The motion picture and sound recording industries account for a small but significant portion of Alabama's overall economic output.
- This metric can signal changes in consumer demand, investment, and broader economic conditions within the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted output of the motion picture and sound recording industries in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and contribution of a key industry within Alabama's broader economic landscape, which is valuable for economists, policymakers, and industry analysts.
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 chain-type quantity index methodology.
Q: How is this trend used in economic policy?
A: This trend is used by economists, industry analysts, and policymakers to assess the health and trajectory of Alabama's motion picture and sound recording industries, which can inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and potential revisions as other economic indicators published by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Motion Picture and Sound Recording Industries (512) in Alabama (ALMOTPICSNDQGSP), retrieved from FRED.