Real Gross Domestic Product: Accommodation and Food Services (72) in Mississippi
MSACCOMDRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,523.10
Year-over-Year Change
-5.57%
Date Range
1/1/2005 - 1/1/2025
Summary
This trend measures the real gross domestic product (GDP) of the accommodation and food services industry in Mississippi. It provides insight into the economic performance and growth of this key service 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: Accommodation and Food Services (72) in Mississippi series tracks the inflation-adjusted output of businesses in the accommodation and food services industry, such as hotels, restaurants, and bars, within the state of Mississippi. This metric is used by economists and policymakers to assess the health and competitiveness of this important component of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Trends in this series are relevant for understanding the broader economic conditions and consumer spending patterns in Mississippi.
Key Facts
- The accommodation and food services industry accounts for over 10% of Mississippi's GDP.
- This sector experienced a significant decline during the COVID-19 pandemic in 2020.
- Real GDP in this industry has generally trended upward in Mississippi over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the accommodation and food services industry in the state of Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic performance and growth of a key service sector in Mississippi, which is important for understanding broader economic conditions and consumer spending patterns in the state.
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: Trends in this series are relevant for policymakers and economists who want to assess the health and competitiveness of the accommodation and food services industry in Mississippi.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly by the U.S. Bureau of Economic Analysis, with some potential for minor delays in publication.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Accommodation and Food Services (72) in Mississippi (MSACCOMDRQGSP), retrieved from FRED.