Chain-Type Quantity Index for Real GDP: Motion Picture and Sound Recording Industries (512) in Tennessee
TNMOTPICSNDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
180.57
Year-over-Year Change
113.15%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Motion Picture and Sound Recording Industries (512) in Tennessee measures the real output growth of this economic 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 tracks changes in the real, inflation-adjusted value of goods and services produced by the motion picture and sound recording industries in Tennessee. It is a key indicator of economic activity and productivity in this important creative sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using detailed industry-level GDP information.
Historical Context
Policymakers and businesses monitor this index to understand trends in Tennessee's creative economy.
Key Facts
- Tennessee's motion picture and sound recording industries account for over 25,000 jobs.
- This sector contributed $3.2 billion to Tennessee's GDP in 2021.
- The index has grown by an average of 4.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output growth of Tennessee's motion picture and sound recording industries. It tracks changes in the inflation-adjusted value of goods and services produced by this sector.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of economic activity and productivity in Tennessee's important creative industries. Policymakers and businesses use it to monitor trends in this sector of the state's economy.
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 GDP information.
Q: How is this trend used in economic policy?
A: Policymakers and economic development officials monitor this index to understand the performance and outlook for Tennessee's motion picture and sound recording industries, which are a crucial part of the state's creative economy.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the Bureau of Economic Analysis. There may be some reporting lags, but the data provides a timely view of this industry's economic performance in Tennessee.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Motion Picture and Sound Recording Industries (512) in Tennessee (TNMOTPICSNDQGSP), retrieved from FRED.