Real Gross Domestic Product: Accommodation and Food Services (72) in Arizona
AZACCOMDRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,956.30
Year-over-Year Change
6.16%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product: Accommodation and Food Services (72) in Arizona measures the inflation-adjusted economic output of this industry in the state. It is a key indicator of the health and trends in Arizona's hospitality and tourism 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
This series tracks the real GDP, or inflation-adjusted total economic output, of the Accommodation and Food Services industry (NAICS code 72) in the state of Arizona. It provides insights into the performance and growth of a critical component of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and market analysts closely monitor this series to assess the broader economic conditions and outlook for Arizona.
Key Facts
- Arizona's Accommodation and Food Services industry accounts for over 10% of the state's total GDP.
- This sector has seen steady growth over the past decade, outpacing the overall state economy.
- The real GDP of Arizona's Accommodation and Food Services industry topped $12 billion in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted total economic output or real GDP of the Accommodation and Food Services industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and growth of a critical sector of Arizona's economy, which is heavily dependent on tourism and hospitality.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts closely monitor this series to assess the broader economic conditions and outlook for Arizona, as the Accommodation and Food Services industry is a key driver of the state's economy.
Q: Are there update delays or limitations?
A: This data is released quarterly by the U.S. Bureau of Economic Analysis, with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Accommodation and Food Services (72) in Arizona (AZACCOMDRQGSP), retrieved from FRED.