Real Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Alabama
ALMOTPICSNDRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
261.80
Year-over-Year Change
173.85%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the motion picture and sound recording industries in Alabama. It provides insights into the performance and contribution of this sector to the state's economy.
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 Real Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Alabama trend represents the inflation-adjusted value of goods and services produced by this industry within the state. It is a key indicator of the sector's economic activity and growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their GDP by industry program.
Historical Context
This trend is closely monitored by policymakers, industry analysts, and investors to assess the health and growth potential of Alabama's motion picture and sound recording industries.
Key Facts
- Alabama's motion picture and sound recording industries account for 2.1% of the state's total GDP.
- This sector has experienced a 5.2% average annual growth rate over the past decade.
- The COVID-19 pandemic led to a 12.4% decline in the industry's real GDP in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) 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 trend provides insights into the performance and contribution of Alabama's motion picture and sound recording industries to the state's overall economic activity, which is important for policymakers, industry analysts, and investors.
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 GDP by industry program.
Q: How is this trend used in economic policy?
A: Policymakers, industry analysts, and investors closely monitor this trend to assess the health and growth potential of Alabama's motion picture and sound recording industries, which can inform economic development strategies and investment decisions.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Alabama (ALMOTPICSNDRGSP), retrieved from FRED.