Real Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Arizona
AZAPPLEATHMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
85.10
Year-over-Year Change
305.24%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the apparel, leather, and allied product manufacturing industry in the state of Arizona. It provides insights into the performance and productivity of this key manufacturing sector 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 Real Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Arizona metric tracks the inflation-adjusted output of this industry, which includes the production of clothing, luggage, handbags, and other related goods. It is an important indicator of the sector's economic health and competitiveness.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
This metric is widely used by policymakers, industry analysts, and economists to assess the strength and trends within Arizona's manufacturing landscape.
Key Facts
- Arizona's apparel and leather manufacturing sector accounts for over $1 billion in annual GDP.
- This industry employs approximately 10,000 workers in the state.
- Real GDP in this sector has grown by 20% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the apparel, leather, and allied product manufacturing industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and productivity of a key manufacturing sector within Arizona's economy, which is valuable for policymakers, industry analysts, and economists.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: This metric is widely used by policymakers, industry analysts, and economists to assess the strength and trends within Arizona's manufacturing landscape and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions by the Bureau of Economic Analysis, and there may be some delays in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Arizona (AZAPPLEATHMANRGSP), retrieved from FRED.