Real Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in North Carolina
NCMOTPICSNDRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
781.90
Year-over-Year Change
136.94%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the motion picture and sound recording industries (NAICS 512) in North Carolina. It provides insight into the performance and productivity of this key creative sector within 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 Real Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in North Carolina series tracks the inflation-adjusted total economic output of businesses in this industry group, which includes movie studios, record labels, and other audio/visual production companies located in the state. This metric is used by economists and policymakers to assess the overall health and competitiveness of North Carolina's creative industries.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using income and production information collected through business surveys.
Historical Context
Trends in this industry's GDP are closely monitored by state economic development agencies and film/music trade associations to inform policy decisions and investment strategies.
Key Facts
- North Carolina's motion picture and sound recording GDP was $2.9 billion in 2021.
- This industry accounted for 1.3% of the state's total economic output in 2021.
- The sector saw 4.2% annualized growth from 2016 to 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the motion picture and sound recording industries (NAICS 512) within the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the overall performance and productivity of North Carolina's creative industries, which are an important part of the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using income and production information collected through business surveys.
Q: How is this trend used in economic policy?
A: Trends in this industry's GDP are closely monitored by state economic development agencies and film/music trade associations to inform policy decisions and investment strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in North Carolina (NCMOTPICSNDRGSP), retrieved from FRED.