Gross Domestic Product: Accommodation (721) in Mississippi
MSACCOMDNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,084.90
Year-over-Year Change
29.17%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Accommodation (721) in Mississippi measures the economic output of the accommodation industry in the state. This data provides insights into a key sector of 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 (721) in Mississippi represents the total value of goods and services produced by the accommodation industry in the state. This metric is used by economists and policymakers to analyze the economic performance and growth of Mississippi's tourism and hospitality sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using government surveys and economic modeling.
Historical Context
This economic trend is relevant for understanding the overall health of Mississippi's service economy and evaluating the state's tourism and business climate.
Key Facts
- Mississippi's accommodation GDP totaled $1.3 billion in 2021.
- The accommodation industry accounts for 2.1% of Mississippi's total GDP.
- Tourism is a major driver of Mississippi's economy.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Accommodation (721) in Mississippi measures the total economic output of the accommodation industry in the state, including hotels, motels, and other lodging facilities.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and importance of Mississippi's tourism and hospitality sectors, which are crucial components 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 using government surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess the overall health of Mississippi's service economy and evaluate the state's business and tourism climate.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly, but there may be some delays in reporting due to the complexities of economic data collection.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Accommodation (721) in Mississippi (MSACCOMDNGSP), retrieved from FRED.