Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Tennessee
TNMOTPICSNDNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,392.00
Year-over-Year Change
109.41%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the Gross Domestic Product (GDP) of the motion picture and sound recording industries in Tennessee. It provides insights into the economic performance and contribution of this key 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 GDP of the motion picture and sound recording industries in Tennessee represents the total value of goods and services produced by this industry in the state. It is an important indicator of the health and growth of this crucial creative sector, which includes film, television, music, and other multimedia production.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Historical Context
This GDP trend is relevant for understanding the economic conditions and policy needs of Tennessee's creative industries.
Key Facts
- Tennessee's motion picture and sound recording GDP was $2.8 billion in 2020.
- This industry accounts for approximately 1.2% of Tennessee's total GDP.
- The sector has seen steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) of the motion picture and sound recording industries in the state of Tennessee.
Q: Why is this trend relevant for users or analysts?
A: This GDP trend provides insights into the economic performance and contribution of Tennessee's crucial creative industries, which are important for understanding the state's overall economic conditions and policy needs.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Q: How is this trend used in economic policy?
A: This GDP trend is relevant for policymakers, economists, and industry analysts seeking to understand the economic conditions and growth of Tennessee's motion picture and sound recording sectors.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically several months after the end of the reference period. There may also be revisions to previously published estimates.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Tennessee (TNMOTPICSNDNGSP), retrieved from FRED.