Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Arizona
AZAGRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
105.43
Year-over-Year Change
59.01%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Arizona measures the volume of economic output in this sector for the state. It is a key indicator for assessing the health and trends of Arizona's agricultural and natural resource industries.
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 the real, inflation-adjusted value of economic production in Arizona's agriculture, forestry, fishing, and hunting sectors. It is a volume measure that reflects changes in the physical quantity of goods and services, rather than monetary values. Economists and policymakers use this data to evaluate the performance and competitiveness of these crucial industries.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach.
Historical Context
Trends in this index provide insights into the broader economic conditions and policy needs of Arizona's rural and natural resource-dependent communities.
Key Facts
- The index uses 2012 as the base year.
- Arizona's agriculture sector accounts for over 5% of the state's GDP.
- The index has shown steady growth since the early 2010s.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Arizona measures the volume of economic output in these sectors for the state.
Q: Why is this trend relevant for users or analysts?
A: This index provides crucial insights into the performance and competitiveness of Arizona's agriculture, forestry, fishing, and hunting industries, which are vital to the state's economy.
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 approach.
Q: How is this trend used in economic policy?
A: Trends in this index help inform economic and policy decisions related to Arizona's rural and natural resource-dependent communities.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Arizona (AZAGRQGSP), retrieved from FRED.