Real Gross Domestic Product: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in Nebraska
NEPRFRMSPRTMSMRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
364.30
Year-over-Year Change
56.82%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) for performing arts, spectator sports, museums, and related activities in the state of Nebraska. It provides insights into the performance and growth of this important sector of 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: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in Nebraska is a key economic indicator that tracks the inflation-adjusted value of goods and services produced by this industry in the state. It is used by economists and policymakers to assess the health and trajectory of Nebraska's cultural and recreational economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This trend is relevant for understanding the role of the arts, entertainment, and tourism sectors in Nebraska's overall economic performance and development.
Key Facts
- Nebraska's performing arts, spectator sports, and museums sector accounts for over 2% of the state's total GDP.
- This industry experienced a 5.2% decline in real GDP during the COVID-19 pandemic in 2020.
- The performing arts and entertainment sector is a key driver of tourism spending in Nebraska.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the performing arts, spectator sports, museums, and related activities industry in the state of Nebraska.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and growth of Nebraska's cultural and recreational economy, which is a key driver of tourism and economic development 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 income and product accounting methods.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the health and trajectory of Nebraska's arts, entertainment, and tourism sectors, which are important for the state's overall economic performance and development.
Q: Are there update delays or limitations?
A: The data is subject to the same update delays and limitations as other regional GDP estimates published by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in Nebraska (NEPRFRMSPRTMSMRGSP), retrieved from FRED.