Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Montana
MTARTENTRECNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,028.10
Year-over-Year Change
109.90%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) of the arts, entertainment, and recreation industry in Montana. It provides insights into the health and importance of this sector to 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 arts, entertainment, and recreation industry includes businesses and organizations involved in creative, cultural, and recreational activities. This data series tracks the economic output of this sector in Montana, allowing policymakers and analysts to assess its contribution to the state's overall economic performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using various economic surveys and models.
Historical Context
This trend is used by economists, policymakers, and industry stakeholders to understand the role of the arts, entertainment, and recreation sector in Montana's economy.
Key Facts
- Montana's arts, entertainment, and recreation GDP was $1.4 billion in 2021.
- This sector accounts for 2.7% of Montana's total GDP.
- The industry has grown by 8.2% annually on average over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the arts, entertainment, and recreation industry in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic importance and performance of the arts, entertainment, and recreation sector in Montana, which is crucial for understanding the state's overall economic landscape.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using various economic surveys and models.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and industry stakeholders to assess the role of the arts, entertainment, and recreation sector in Montana's economy and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is typically published with a delay of several months, and may be subject to revisions as more information becomes available.
Related Trends
Gross Domestic Product: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in Montana
MTPRFRMSPRTMSMNGSP
New Private Housing Units Authorized by Building Permits: 1-Unit Structures for Montana
MTBP1FH
All Employees: Education and Health Services in Montana
SMU30000006500000001A
Average Weekly Hours of All Employees: Goods Producing in Montana
SMU30000000600000002A
Number of Identified Exporters to Estonia from Montana
MTESTA475SCEN
Estimated Percent of People Age 0-17 in Poverty for Montana
PPU18MT30000A156NCEN
Citation
U.S. Federal Reserve, Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Montana (MTARTENTRECNGSP), retrieved from FRED.