Gross Domestic Product: Accommodation and Food Services (72) in Oregon
ORACCOMDNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,734.30
Year-over-Year Change
22.94%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Accommodation and Food Services (72) in Oregon tracks the economic output of the hospitality industry in the state. This metric is important for policymakers and analysts to understand the health and performance of a key service sector.
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 series measures the total economic output, or GDP, specifically from businesses in the Accommodation and Food Services industry (NAICS code 72) located within the state of Oregon. It provides insight into the scale and trends of the hospitality sector, which includes hotels, restaurants, bars, and related services.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using state-level GDP accounts.
Historical Context
Policymakers and market analysts use this data to assess the economic conditions and outlook for Oregon's hospitality industry.
Key Facts
- Oregon's hospitality GDP was $8.4 billion in 2020.
- The sector accounts for over 10% of Oregon's total economic output.
- Hospitality GDP declined 23.5% in Oregon during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total economic output or GDP specifically from businesses in the Accommodation and Food Services industry in the state of Oregon.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the health and performance of a key service sector in the Oregon economy, which is crucial for policymakers and market analysts 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 using state-level GDP accounts.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this data to assess the economic conditions and outlook for Oregon's hospitality industry, which is an important driver of the state's overall economy.
Q: Are there update delays or limitations?
A: There may be lags of several months in the data availability due to the time required for collection and processing by statistical agencies.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Accommodation and Food Services (72) in Oregon (ORACCOMDNQGSP), retrieved from FRED.