Real Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Arkansas
ARMOTPICSNDRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
122.20
Year-over-Year Change
19.57%
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 Arkansas. It provides insights into the performance and contribution of this sector to the state's overall economic output.
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 Arkansas trend represents the inflation-adjusted value added by this industry to the state's GDP. It is a key indicator for understanding the growth and productivity of Arkansas's film, television, and music production activities.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
This trend is used by economists, policymakers, and industry analysts to evaluate the health and competitiveness of Arkansas's creative economy.
Key Facts
- The motion picture and sound recording industries account for over 2% of Arkansas's total GDP.
- Real GDP in this sector grew by 5.2% in Arkansas in 2021.
- The COVID-19 pandemic caused a 10.4% decline in this industry's real GDP in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the motion picture and sound recording industries in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the performance and contribution of Arkansas's creative economy, which is an important driver of economic growth and employment in the state.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies use this trend to evaluate the health and competitiveness of Arkansas's motion picture and sound recording industries, informing strategies to support this important sector.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Arkansas (ARMOTPICSNDRGSP), retrieved from FRED.