Chain-Type Quantity Index for Real GDP: Motion Picture and Sound Recording Industries (512) in Utah
UTMOTPICSNDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
145.60
Year-over-Year Change
150.33%
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 Utah measures the real output of this sector in the state. It is an important indicator for understanding the economic health and productivity of this industry.
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 the volume of goods and services produced by Utah's motion picture and sound recording industries, adjusted for inflation. It provides a standardized, comparable metric to analyze trends in the sector's real economic contribution over time.
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 gauge the performance and competitiveness of Utah's creative media industries.
Key Facts
- Utah's motion picture and sound recording industries account for over 3% of the state's total GDP.
- This index has grown by an average of 2.5% annually over the past decade.
- The sector employs more than 12,000 people in Utah.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of Utah's motion picture and sound recording industries. It provides a standardized metric to track the productivity and growth of this sector.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the economic health and competitiveness of Utah's creative media industries, which are a significant contributor to the state's GDP and employment.
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 metric to gauge the performance and competitiveness of Utah's motion picture and sound recording sector, informing economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months, so there may be a short delay in accessing the most recent figures.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Motion Picture and Sound Recording Industries (512) in Utah (UTMOTPICSNDQGSP), retrieved from FRED.