Chain-Type Quantity Index for Real GDP: Motion Picture and Sound Recording Industries (512) in Wisconsin
WIMOTPICSNDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
155.80
Year-over-Year Change
37.22%
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 Wisconsin measures the real output, or inflation-adjusted production, of this important 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 provides a way to track the growth and performance of the motion picture and sound recording industries in Wisconsin over time, adjusting for the effects of inflation. It is a key indicator for analyzing economic activity and productivity in this specific industry within the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on survey responses and other economic indicators.
Historical Context
This trend is closely watched by policymakers, industry analysts, and economists to understand the dynamics of Wisconsin's creative and media production sectors.
Key Facts
- Wisconsin's motion picture and sound recording industries account for over 15,000 jobs statewide.
- This sector contributed over $2 billion to Wisconsin's GDP in recent years.
- The index has shown steady growth in real output over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted output of the motion picture and sound recording industries in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This index provides key insights into the performance and growth of an important creative and media production sector within the Wisconsin economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on survey responses and other economic indicators.
Q: How is this trend used in economic policy?
A: Policymakers, industry analysts, and economists closely monitor this trend to understand dynamics in Wisconsin's media production sectors and their broader economic impact.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis with a several month delay, which is a common limitation for this type of economic indicator.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Motion Picture and Sound Recording Industries (512) in Wisconsin (WIMOTPICSNDQGSP), retrieved from FRED.