Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in Pennsylvania
PAAMUSENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,843.90
Year-over-Year Change
52.01%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the amusement, gambling, and recreation industries in Pennsylvania. It provides insight into the performance and contribution of this key 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 PAAMUSENGSP series tracks the GDP of Pennsylvania's amusement, gambling, and recreation industries, which includes a wide range of activities such as casinos, sports teams, theme parks, and other recreational services. This metric is used by economists and policymakers to analyze the health and growth of this important part of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP reporting.
Historical Context
This economic indicator is relevant for understanding Pennsylvania's broader economic conditions and the role of the leisure and hospitality sector.
Key Facts
- Pennsylvania's amusement, gambling, and recreation industries account for over 3% of the state's total GDP.
- This sector has seen steady growth over the past decade, outpacing the overall state economy.
- The COVID-19 pandemic significantly impacted this industry, leading to a sharp decline in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the amusement, gambling, and recreation industries in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the performance and contribution of Pennsylvania's leisure and hospitality sector, 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 their comprehensive GDP reporting.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to analyze the health and growth of Pennsylvania's amusement, gambling, and recreation industries, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and potential revisions of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in Pennsylvania (PAAMUSENGSP), retrieved from FRED.