Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in Arizona
AZCHEMMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
203.33
Year-over-Year Change
-0.35%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in Arizona measures the real output of the chemical manufacturing sector in Arizona. This metric is important for understanding economic growth and productivity in the state.
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 quantity of goods and services produced by chemical manufacturers in Arizona, adjusted for inflation. It is a key indicator of the health and performance of this vital industrial sector within the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Historical Context
Policymakers and analysts use this index to assess the competitiveness and trajectory of Arizona's chemical manufacturing industry.
Key Facts
- Arizona is a major hub for the chemical manufacturing industry.
- The chemical sector accounts for over 10% of the state's total GDP.
- This index has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in Arizona measures the real output of the chemical manufacturing sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding economic growth and productivity in Arizona, as the chemical manufacturing industry is a key driver of 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 state-level GDP figures.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the competitiveness and trajectory of Arizona's chemical manufacturing industry, which informs economic development strategies.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the Federal Reserve, with a slight delay in data availability.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in Arizona (AZCHEMMANQGSP), retrieved from FRED.