Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Illinois
ILARTENTRECNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,717.80
Year-over-Year Change
42.13%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the gross domestic product (GDP) of the arts, entertainment, and recreation sector in the state of Illinois. It provides insights into the economic performance and contributions of this key industry within 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
The Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Illinois metric tracks the total economic output of businesses and organizations in the arts, entertainment, and recreation industry in the state. This data is used by policymakers, analysts, and researchers to understand the significance of this sector within the broader Illinois economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including business surveys and economic censuses.
Historical Context
This economic trend is relevant for understanding the health and growth of Illinois' creative and leisure industries, which can inform policy decisions and business strategies.
Key Facts
- Illinois' arts, entertainment, and recreation sector accounted for 4.2% of the state's total GDP in 2021.
- This industry grew by 8.1% in Illinois between 2020 and 2021, outpacing the overall state GDP growth.
- The arts, entertainment, and recreation sector employs over 220,000 people in Illinois.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the arts, entertainment, and recreation sector in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and contributions of the arts, entertainment, and recreation industry within the Illinois economy, which is crucial 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 a variety of sources, including business surveys and economic censuses.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, analysts, and researchers to understand the significance of the arts, entertainment, and recreation sector within the broader Illinois economy, which can inform policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical release delay of 2-3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Illinois (ILARTENTRECNQGSP), retrieved from FRED.