Chain-Type Quantity Index for Real GDP: Amusement, Gambling, and Recreation Industries (713) in Rhode Island
RIAMUSEQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
75.02
Year-over-Year Change
-4.27%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Amusement, Gambling, and Recreation Industries (713) in Rhode Island measures the volume of economic output from this sector in the state, adjusted for inflation.
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 index tracks changes in the real (inflation-adjusted) value of goods and services produced by amusement, gambling, and recreation businesses in Rhode Island. It is a key indicator of economic activity and consumer demand in this industry.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using detailed industry-level price and quantity information.
Historical Context
Policymakers and analysts use this index to assess the health and trends in Rhode Island's recreation and tourism-related economy.
Key Facts
- This index is based on 2012 as the reference year.
- Rhode Island's recreation industries account for over 4% of the state's total GDP.
- The index has shown steady growth since the early 2000s.
FAQs
Q: What does this economic trend measure?
A: This index measures the real (inflation-adjusted) output volume of amusement, gambling, and recreation businesses in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This index provides valuable insight into the performance and trends of an important sector of Rhode Island's economy, which is heavily influenced by tourism and consumer spending.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using detailed industry-level price and quantity information.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the health and trends in Rhode Island's recreation and tourism-related economy, which can inform decisions on economic development, infrastructure, and regulatory policies.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the U.S. Bureau of Economic Analysis, with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Amusement, Gambling, and Recreation Industries (713) in Rhode Island (RIAMUSEQGSP), retrieved from FRED.