Gross Domestic Product: Accommodation and Food Services (72) in Florida
FLACCOMDNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
80,334.00
Year-over-Year Change
29.74%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Accommodation and Food Services (72) in Florida trend measures the economic output of the accommodation and food services sector in the state. This data provides insight into the performance and growth of a key industry for Florida'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 Accommodation and Food Services (72) sector includes establishments providing lodging and food services to both residents and visitors. This metric helps economists and policymakers assess the overall health and competitiveness of Florida's tourism and hospitality industries.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of economic surveys and government records.
Historical Context
Tracking this trend is important for understanding Florida's economic drivers and making informed policy decisions related to the state's tourism and service sectors.
Key Facts
- Florida's accommodation and food services sector accounts for over 1 million jobs.
- This industry generates around $111 billion in annual GDP for Florida.
- Tourism is a major economic driver, attracting over 130 million visitors per year.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) of the Accommodation and Food Services (72) sector in the state of Florida.
Q: Why is this trend relevant for users or analysts?
A: Tracking this sector's GDP provides insight into the performance and growth of Florida's critical tourism and hospitality industries, which are major economic drivers for the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of economic surveys and government records.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to understand Florida's economic drivers and make informed decisions related to the state's tourism and service sectors.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately three months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Accommodation and Food Services (72) in Florida (FLACCOMDNQGSP), retrieved from FRED.