Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in Maryland
MDAMUSENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,394.10
Year-over-Year Change
209.79%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) generated by the amusement, gambling, and recreation industries in the state of Maryland. It provides insights into the performance and economic contribution of this important 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
The MDAMUSENGSP series tracks the GDP, or total economic output, of the amusement, gambling, and recreation industries in Maryland. This data point is valuable for understanding the size and significance of this industry within the state's overall 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 business leaders use this trend to assess the health and growth potential of Maryland's leisure and hospitality industry.
Key Facts
- Maryland's amusement and recreation industries contributed $4.8 billion to state GDP in 2021.
- This sector accounts for 2.3% of Maryland's total economic output.
- GDP in this industry grew by 8.2% in 2021 as the state's economy recovered from the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the amusement, gambling, and recreation industries in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the size, growth, and economic importance of Maryland's leisure and hospitality sector, which is a key part of the state's overall economic performance.
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 business leaders use this trend to assess the health and growth potential of Maryland's amusement, gambling, and recreation industries, which can inform economic development strategies and investments.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, so there may be a several-month delay in the most recent figures being available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in Maryland (MDAMUSENGSP), retrieved from FRED.