Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in South Dakota
SDARTENTRECQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
140.24
Year-over-Year Change
40.05%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in South Dakota measures the inflation-adjusted economic output of the arts, entertainment, and recreation sector in 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
This index provides a quantitative measure of the real economic activity in South Dakota's arts, entertainment, and recreation industry, which is an important sector for the state's tourism-driven economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Historical Context
Policymakers and industry analysts use this metric to assess the health and growth of South Dakota's leisure and hospitality sector.
Key Facts
- The index is a measure of real, inflation-adjusted economic output.
- The arts, entertainment, and recreation sector is a key part of South Dakota's tourism-driven economy.
- The data is produced by the U.S. Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted, real economic output of the arts, entertainment, and recreation sector in the state of South Dakota.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the health and growth of a key industry in South Dakota's tourism-driven economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this index to assess the performance of South Dakota's leisure and hospitality sector.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and potential revisions as other GDP statistics produced by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in South Dakota (SDARTENTRECQGSP), retrieved from FRED.