Real Gross Domestic Product: Accommodation and Food Services (72) in Missouri
MOACCFDRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,595.30
Year-over-Year Change
17.14%
Date Range
1/1/1997 - 1/1/2024
Summary
This metric tracks the real gross domestic product (GDP) of the accommodation and food services industry in Missouri. It provides insight into the economic performance and productivity of this key sector 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 real GDP for accommodation and food services in Missouri measures the value of goods and services produced by this industry, adjusted for inflation. It is a key indicator of economic activity and can help policymakers and analysts assess the health of Missouri's tourism and hospitality sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their GDP by state program.
Historical Context
This metric is used by economists, policymakers, and businesses to understand trends in Missouri's service economy and guide economic development strategies.
Key Facts
- Missouri's accommodation and food services industry accounts for over 10% of the state's GDP.
- This metric has shown steady growth over the past decade, reflecting the importance of tourism to Missouri's economy.
- The COVID-19 pandemic caused a sharp decline in this metric in 2020 due to lockdowns and travel restrictions.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real 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 trend provides insight into the economic performance and productivity of Missouri's tourism and hospitality sectors, which are important drivers of the state's economy.
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 GDP by state program.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and businesses use this metric to understand trends in Missouri's service economy and guide economic development strategies.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Accommodation and Food Services (72) in Missouri (MOACCFDRGSP), retrieved from FRED.