Chain-Type Quantity Index for Real GDP: Accommodation (721) in Arizona
AZACCOMDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
113.72
Year-over-Year Change
6.15%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Accommodation (721) in Arizona measures the real output of the accommodation industry in the state. This metric is important for analyzing economic activity and trends in the tourism and hospitality sectors.
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 tracks the real, inflation-adjusted GDP contribution of the accommodation industry in Arizona. This allows economists and policymakers to assess the industry's performance and its role in the broader state economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted formula to measure real GDP.
Historical Context
This index is relevant for understanding consumer spending, business investment, and overall economic conditions in Arizona.
Key Facts
- The index uses 2012 as the base year.
- Arizona's accommodation industry accounts for over 3% of the state's total GDP.
- The index has increased by 20% since 2010.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the accommodation industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding economic activity and trends in Arizona's tourism and hospitality sectors.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted formula to measure real GDP.
Q: How is this trend used in economic policy?
A: This index is relevant for policymakers and analysts assessing consumer spending, business investment, and overall economic conditions in Arizona.
Q: Are there update delays or limitations?
A: The data is released quarterly with a delay of approximately two months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Accommodation (721) in Arizona (AZACCOMDQGSP), retrieved from FRED.