Gross Domestic Product: Accommodation and Food Services (72) in Missouri
MOACCFDNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14,229.40
Year-over-Year Change
104.92%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) of the accommodation and food services industry in the state of Missouri. It provides important insights into the performance and contribution of this key sector to the state's economy.
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: Accommodation and Food Services (72) in Missouri series represents the total economic output of businesses in the accommodation and food services industry in the state. This metric is widely used by economists and policymakers to analyze the health and growth of this crucial service sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of economic surveys and administrative records.
Historical Context
This economic indicator is valuable for understanding the strength of Missouri's tourism, hospitality, and consumer spending trends.
Key Facts
- Missouri's accommodation and food services industry accounts for over 5% of the state's total GDP.
- GDP in this sector grew by 3.2% in 2021 as the economy recovered from the COVID-19 pandemic.
- The accommodation and food services industry employs over 300,000 workers in Missouri.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total economic output or gross domestic product (GDP) of the accommodation and food services industry in the state of Missouri.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the performance and contribution of Missouri's tourism, hospitality, and consumer spending sectors, which are crucial to the state's overall economic health.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using economic surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this indicator to assess the strength of Missouri's service sector and develop policies to support the state's tourism, hospitality, and consumer-driven industries.
Q: Are there update delays or limitations?
A: The data is typically released with a 2-3 month delay and may be subject to periodic revisions by the statistical agencies.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Accommodation and Food Services (72) in Missouri (MOACCFDNGSP), retrieved from FRED.