Real Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in Pennsylvania
PAAMUSERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,607.90
Year-over-Year Change
-1.58%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the amusement, gambling, and recreation industries in Pennsylvania. It provides insights into the economic performance and growth of this important 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 Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in Pennsylvania series tracks the inflation-adjusted economic output of businesses in this industry group, which includes a variety of recreational and leisure activities. This metric is a key indicator of the overall health and vitality of Pennsylvania's tourism and leisure economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and analysts use this trend to assess the economic conditions and development of Pennsylvania's recreation and entertainment sector.
Key Facts
- Pennsylvania's amusement, gambling, and recreation industries account for over $10 billion in annual GDP.
- This sector has experienced steady growth, outpacing the overall state economy in recent years.
- The recreation industry is a major employer and driver of tourism in many Pennsylvania communities.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted 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 metric provides valuable insights into the performance and growth of Pennsylvania's recreation and leisure sector, which is an important component of the state's overall economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the economic conditions and development of Pennsylvania's recreation and entertainment sector, which informs decisions related to tourism, taxation, and infrastructure investment.
Q: Are there update delays or limitations?
A: This data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 1-2 months from the end of the reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in Pennsylvania (PAAMUSERGSP), retrieved from FRED.