Real Gross Domestic Product: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in Missouri
MOPRFRMSPRTMSMRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,718.50
Year-over-Year Change
14.30%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures real gross domestic product (GDP) for the performing arts, spectator sports, museums, and related activities industry in Missouri. It provides insights into the economic performance and productivity 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 Real Gross Domestic Product: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in Missouri series tracks the total inflation-adjusted output generated by this industry in the state. It is a key indicator of economic growth and productivity in Missouri's cultural and entertainment sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is used by policymakers, economists, and industry analysts to assess the economic health and competitiveness of Missouri's performing arts, sports, and cultural institutions.
Key Facts
- Missouri's performing arts, sports, and museum sector accounts for over 2% of the state's total GDP.
- This industry grew by 3.1% in real terms in 2021, outpacing overall state economic growth.
- The COVID-19 pandemic had a significant negative impact on this sector, with a 12.5% decline in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the performing arts, spectator sports, museums, and related activities industry in the state of Missouri.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and productivity of an important cultural and entertainment sector in Missouri, which is useful for policymakers, economists, and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and industry analysts to assess the economic health and competitiveness of Missouri's performing arts, sports, and cultural institutions, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and revisions of the U.S. Bureau of Economic Analysis, which may result in occasional update delays or minor historical revisions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in Missouri (MOPRFRMSPRTMSMRGSP), retrieved from FRED.