Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in Connecticut
CTAMUSENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,124.10
Year-over-Year Change
125.46%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the Gross Domestic Product (GDP) of the amusement, gambling, and recreation industries in Connecticut. It provides insight into the economic output and performance of this key 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 CTAMUSENGSP series tracks the total value of goods and services produced by amusement, gambling, and recreation establishments in Connecticut. This data is used by economists and policymakers to analyze the state's economic structure and growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting principles.
Historical Context
This economic indicator is relevant for understanding Connecticut's service-based economy and the role of leisure and hospitality industries.
Key Facts
- Connecticut's amusement, gambling, and recreation GDP was $3.7 billion in 2021.
- This sector accounts for 1.4% of Connecticut's total economic output.
- The industry experienced a 35% decline in 2020 due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total Gross Domestic Product (GDP) of the amusement, gambling, and recreation industries in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the performance and economic contribution of Connecticut's leisure and hospitality sector, which is an important part of the state's service-based economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to understand the dynamics of Connecticut's service industries and evaluate the state's overall economic structure and growth.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in Connecticut (CTAMUSENGSP), retrieved from FRED.