Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in Arizona
AZADMINWASTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
134.33
Year-over-Year Change
65.12%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in Arizona measures the volume of economic output in this industry sector. It is a key indicator for assessing the state's service-sector growth and business environment.
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 tracks changes in the real, inflation-adjusted output of administrative, support, waste management, and remediation services in Arizona. It is used by economists and policymakers to analyze productivity trends and the overall health of the state's business services industry.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted formula to control for price changes.
Historical Context
This index provides insights into the service-sector performance that informs economic and workforce development policies in Arizona.
Key Facts
- The index uses 2012 as the base year.
- Arizona's administrative and support services accounted for 3.4% of total state GDP in 2021.
- The index reached a high of 111.76 in 2021, indicating growth in this sector.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted volume of economic output in the administrative, support, waste management, and remediation services industry in Arizona.
Q: Why is this trend relevant for users or analysts?
A: This index provides insights into the performance and productivity of an important service-sector industry in Arizona, which is valuable for economic analysis and policy decisions.
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 control for price changes.
Q: How is this trend used in economic policy?
A: This index informs economic and workforce development policies in Arizona by providing insights into the service-sector performance and growth.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a delay of approximately 3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in Arizona (AZADMINWASTQGSP), retrieved from FRED.