Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Arizona
AZARTENTRECNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,447.90
Year-over-Year Change
69.26%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the gross domestic product (GDP) contribution of the arts, entertainment, and recreation industry in the state of Arizona. It provides insight into the size and performance of this important economic 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 Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Arizona series tracks the total economic output of businesses and organizations in the arts, entertainment, and recreation industry within the state. This metric is a key indicator of the industry's importance and health within the Arizona economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry surveys and economic modeling.
Historical Context
Policymakers and businesses use this trend to understand the role of the arts and entertainment sector in Arizona's economy.
Key Facts
- Arizona's arts, entertainment, and recreation sector contributed $5.6 billion to the state's GDP in 2021.
- This industry accounted for 2.9% of Arizona's total economic output in 2021.
- The arts and entertainment sector in Arizona has grown by 15% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contribution of the arts, entertainment, and recreation industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the size and performance of an important economic sector in Arizona, which is useful for policymakers, businesses, and researchers.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Policymakers and businesses use this trend to understand the role of the arts and entertainment sector in Arizona's economy and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 2-3 month delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Arizona (AZARTENTRECNQGSP), retrieved from FRED.