Chain-Type Quantity Index for Real GDP: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in Wisconsin
WIPRFRMSPRTMSMQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
151.11
Year-over-Year Change
40.76%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the chain-type quantity index for real GDP in the performing arts, spectator sports, museums, and related activities sector in Wisconsin. It provides insights into the performance and growth of this important industry within the state's economy.
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 chain-type quantity index for real GDP tracks the volume of goods and services produced in a specific industry, adjusting for price changes. This metric is useful for analyzing productivity, competitiveness, and structural shifts within the Wisconsin economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach.
Historical Context
This trend is closely monitored by policymakers and industry analysts to assess the health and trajectory of Wisconsin's arts, entertainment, and recreation sector.
Key Facts
- The index has a base year of 2012.
- The sector accounts for approximately 1.5% of Wisconsin's total real GDP.
- The index has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in the performing arts, spectator sports, museums, and related activities sector in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and growth of an important industry within Wisconsin's economy, which is useful for policymakers, industry analysts, and economic researchers.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach to measure the volume of goods and services produced in the sector.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers and industry analysts to assess the health and trajectory of Wisconsin's arts, entertainment, and recreation sector, which informs economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with some potential for minor delays in publication.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in Wisconsin (WIPRFRMSPRTMSMQGSP), retrieved from FRED.