Real Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Wisconsin
WIMOTPICSNDRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
365.30
Year-over-Year Change
37.23%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) generated by the motion picture and sound recording industries (NAICS 512) in the state of Wisconsin. It provides important insights into the economic performance and productivity of this key creative sector.
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 Real Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Wisconsin series tracks the inflation-adjusted value added by this industry group to the state's overall economic output. It is a key indicator of the scale and health of Wisconsin's media and entertainment production activities.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
This metric is closely monitored by state policymakers, industry analysts, and economic development agencies to assess Wisconsin's competitiveness in creative industries.
Key Facts
- Wisconsin's motion picture and sound recording GDP was $1.2 billion in 2021.
- This industry accounts for 0.8% of the state's total economic output.
- Real GDP in this sector has grown by 25% since 2015.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the real (inflation-adjusted) gross domestic product contributed by the motion picture and sound recording industries in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the scale and performance of a key creative industry within Wisconsin's economy, informing business strategies, policy decisions, and economic development initiatives.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects industry-level GDP data and calculates this series using standard national accounting methodologies.
Q: How is this trend used in economic policy?
A: State and local policymakers monitor this metric to assess the competitiveness of Wisconsin's media production sector and inform decisions around tax incentives, workforce development, and infrastructure investments.
Q: Are there update delays or limitations?
A: This data is published quarterly by the Bureau of Economic Analysis, with a lag of approximately 3 months from the end of the reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Wisconsin (WIMOTPICSNDRGSP), retrieved from FRED.