Real Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Illinois
Quarterly, Seasonally Adjusted Annual Rate
ILARTENTRECRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,764.70
Year-over-Year Change
15.29%
Date Range
1/1/2005 - 1/1/2025
Summary
The Quarterly, Seasonally Adjusted Annual Rate (ILARTENTRECRQGSP) measures the annualized change in real gross state product, a key indicator of economic activity and growth.
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 economic trend provides a quarterly estimate of real gross state product, which is the total value of goods and services produced within a state, adjusted for inflation. It is a widely used metric for evaluating state-level economic performance and policy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is closely monitored by state policymakers, economists, and businesses to assess regional economic conditions and inform decision-making.
Key Facts
- The trend reached its highest level in Q4 2021 at 7.3%.
- It experienced its largest decline of -31.2% in Q2 2020 due to the COVID-19 pandemic.
- California, Texas, and New York are the states with the largest real gross state products.
FAQs
Q: What does this economic trend measure?
A: The Quarterly, Seasonally Adjusted Annual Rate (ILARTENTRECRQGSP) measures the annualized change in real gross state product, which is the total value of goods and services produced within a state, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of state-level economic activity and growth, which is closely monitored by policymakers, economists, and businesses to assess regional economic conditions and inform decision-making.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is used by state policymakers, economists, and businesses to evaluate regional economic performance and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag, and there may be revisions to previous estimates as more information becomes available.
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Citation
U.S. Federal Reserve, Quarterly, Seasonally Adjusted Annual Rate (ILARTENTRECRQGSP), retrieved from FRED.