Real Gross Domestic Product: Arts, Entertainment, and Recreation (71) in North Carolina
NCARTENTRECRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,336.10
Year-over-Year Change
30.29%
Date Range
1/1/2005 - 1/1/2025
Summary
This metric measures the real gross domestic product (GDP) for the arts, entertainment, and recreation industry in North Carolina. It provides insights into the economic performance and contribution of this sector within the state.
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 GDP for the arts, entertainment, and recreation industry in North Carolina represents the inflation-adjusted value added by this sector to the state's overall economic output. It is an important indicator for understanding the health and growth of creative, leisure, and tourism-related activities in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Historical Context
This trend is closely monitored by policymakers, economic development agencies, and industry stakeholders to gauge the economic significance of the arts, entertainment, and recreation sector in North Carolina.
Key Facts
- North Carolina's arts, entertainment, and recreation GDP totaled $8.4 billion in 2021.
- This sector accounts for approximately 2.5% of the state's total economic output.
- Real GDP in this industry has grown by 12% in North Carolina over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real gross domestic product (GDP) for the arts, entertainment, and recreation industry in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and contribution of the arts, entertainment, and recreation sector within North Carolina, which is an important part 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 as part of its regional GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, economic development agencies, and industry stakeholders to gauge the economic significance of the arts, entertainment, and recreation sector in North Carolina.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically several months after the end of the reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Arts, Entertainment, and Recreation (71) in North Carolina (NCARTENTRECRQGSP), retrieved from FRED.