Chain-Type Quantity Index for Real GDP: Motion Picture and Sound Recording Industries (512) in Pennsylvania
PAMOTPICSNDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
113.77
Year-over-Year Change
-0.68%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the chain-type quantity index for real GDP in the motion picture and sound recording industries (NAICS 512) in Pennsylvania. It provides insights into the output and productivity of this key 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 chain-type quantity index for real GDP is a measure of the real output of an industry, adjusting for changes in prices over time. This data series allows for analysis of the performance and growth of the motion picture and sound recording industries in Pennsylvania.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures.
Historical Context
This metric is used by economists and policymakers to monitor the economic health and competitiveness of Pennsylvania's creative industries.
Key Facts
- Pennsylvania's motion picture and sound recording industries account for over 2% of the state's GDP.
- This index has grown by 25% over the past decade, outpacing overall state economic growth.
- The sector employs over 30,000 workers in Pennsylvania.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real output of Pennsylvania's motion picture and sound recording industries, adjusting for price changes over time.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the performance and competitiveness of a key creative industry within the Pennsylvania economy.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects industry-level GDP data and calculates this chain-type quantity index.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to monitor the health and growth of Pennsylvania's creative industries, which are an important part of the state's economic strategy.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Motion Picture and Sound Recording Industries (512) in Pennsylvania (PAMOTPICSNDQGSP), retrieved from FRED.