Gross Domestic Product: Accommodation and Food Services (72) in Indiana
INACCOMDNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14,806.60
Year-over-Year Change
23.98%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Accommodation and Food Services (72) in Indiana trend measures the economic output of the accommodation and food services industry in the state. This data is important for understanding the health and performance of a key service 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
This series tracks the gross domestic product, or total economic output, of the accommodation and food services industry in the state of Indiana. It provides insights into the overall strength and growth of this critical service-based component of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP reporting.
Historical Context
Policymakers and economists use this data to assess the economic conditions and outlook for Indiana's service industries.
Key Facts
- Indiana's accommodation and food services GDP was $8.3 billion in 2021.
- This industry accounts for over 4% of Indiana's total economic output.
- The sector experienced a 15.2% decline in 2020 due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the accommodation and food services industry in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the performance and health of a key service-based sector of Indiana's economy, which is important for understanding overall economic conditions in 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 as part of their comprehensive GDP reporting.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess the economic conditions and outlook for Indiana's service industries, which can inform decision-making and policy development.
Q: Are there update delays or limitations?
A: The data is subject to the reporting and publication schedule of the U.S. Bureau of Economic Analysis, which may result in occasional delays or revisions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Accommodation and Food Services (72) in Indiana (INACCOMDNQGSP), retrieved from FRED.