Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Mississippi
MSARTENTRECNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,045.80
Year-over-Year Change
57.31%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Mississippi measures the economic output of the arts, entertainment, and recreation sector in the state. This provides important insights into the health and growth of a key industry.
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
This economic trend represents the inflation-adjusted value added by the arts, entertainment, and recreation industry to Mississippi's overall gross domestic product. It is a crucial indicator for understanding the economic contributions and performance of this sector within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and economists use this trend to inform decisions and policies related to the arts, tourism, and recreational industries in Mississippi.
Key Facts
- Mississippi's arts, entertainment, and recreation sector accounts for 3.2% of the state's total GDP.
- This industry has grown by 15% in Mississippi over the past 5 years.
- The arts and recreation sector employs over 45,000 people in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted value added by the arts, entertainment, and recreation industry to Mississippi's overall gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the health and growth of a key industry in Mississippi, which is crucial for policymakers and economists to understand.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to inform decisions and policies related to the arts, tourism, and recreational industries in Mississippi.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the Bureau of Economic Analysis, with a typical 2-month delay.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Mississippi (MSARTENTRECNGSP), retrieved from FRED.