Chain-Type Quantity Index for Real GDP: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in Idaho
IDARTETRTACCFDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
131.44
Year-over-Year Change
82.53%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in Idaho measures the inflation-adjusted output of these key economic sectors in the state.
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
This index tracks the real, or inflation-adjusted, value of goods and services produced by Idaho's arts, entertainment, recreation, accommodation, and food services industries. It provides a comprehensive measure of activity and growth in these important service sectors.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using survey responses and other economic indicators.
Historical Context
This trend is closely watched by policymakers and analysts to gauge the health and trajectory of Idaho's service-based economy.
Key Facts
- Idaho's arts, entertainment, recreation, accommodation, and food services account for over 15% of the state's GDP.
- This index uses 2012 as the base year for calculating real, inflation-adjusted values.
- The index has grown by an average of 3% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of Idaho's arts, entertainment, recreation, accommodation, and food services industries.
Q: Why is this trend relevant for users or analysts?
A: This trend provides a comprehensive gauge of activity and growth in key service sectors that are vital to Idaho's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using survey responses and other economic indicators.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor this index to assess the health and trajectory of Idaho's service-based economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in Idaho (IDARTETRTACCFDQGSP), retrieved from FRED.