Gross Domestic Product: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in Arkansas
ARARTETRTACCFDNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,061.40
Year-over-Year Change
120.00%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the gross domestic product (GDP) of the arts, entertainment, recreation, accommodation, and food services industries in Arkansas. It is an important indicator of economic activity and consumer spending in the state's service 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 ARARTETRTACCFDNGSP series tracks the total value of goods and services produced by the arts, entertainment, recreation, accommodation, and food services industries in Arkansas. This data is used by economists and policymakers to analyze the performance and contribution of these key service sectors to the state's overall economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Monitoring this trend can provide insights into consumer demand, employment, and the economic health of Arkansas's tourism and hospitality industries.
Key Facts
- Arkansas's arts, entertainment, and recreation GDP was $3.7 billion in 2021.
- The accommodation and food services GDP in Arkansas was $5.6 billion in 2021.
- These industries account for over 10% of Arkansas's total GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the arts, entertainment, recreation, accommodation, and food services industries in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and contribution of key service sectors to Arkansas's overall economic growth, which is important for economists, policymakers, and businesses.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Monitoring this trend can inform decisions related to tourism, hospitality, and consumer spending policies in Arkansas.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with potential delays due to the time required for data collection and analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in Arkansas (ARARTETRTACCFDNGSP), retrieved from FRED.