Chain-Type Quantity Index for Real GDP: Accommodation (721) in Missouri
MOACCOMDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
122.50
Year-over-Year Change
37.67%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Accommodation (721) in Missouri measures the real output of the accommodation industry in the state. This trend is an important indicator of economic activity and consumer demand for hospitality services.
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 Chain-Type Quantity Index tracks the real, inflation-adjusted output of the accommodation industry in Missouri. It serves as a proxy for the level of business and leisure travel activity in the state, which is a key driver of the local economy.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Historical Context
Policymakers and analysts use this trend to assess the health of Missouri's hospitality sector and make informed decisions about economic development and tourism promotion.
Key Facts
- The accommodation industry accounts for over 5% of Missouri's GDP.
- Real GDP in Missouri's accommodation sector has grown by 20% since 2015.
- Tourism is a major driver of the state's economy, generating $17 billion in annual revenue.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Accommodation (721) in Missouri measures the real, inflation-adjusted output of the accommodation industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This trend serves as an important indicator of economic activity and consumer demand for hospitality services in Missouri, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the health of Missouri's hospitality sector and make informed decisions about economic development and tourism promotion.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, with a 3-month lag from the end of the reference period.
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Citation
U.S. Bureau of Economic Analysis, Chain-Type Quantity Index for Real GDP: Accommodation (721) in Missouri (MOACCOMDQGSP), retrieved from FRED.