Real Gross Domestic Product: Chemical Manufacturing (325) in Arizona
AZCHEMMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,797.90
Year-over-Year Change
-0.35%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the chemical manufacturing industry in the state of Arizona. It is an important indicator for understanding the economic performance and growth of this key manufacturing sector within 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
The Real Gross Domestic Product: Chemical Manufacturing (325) in Arizona series represents the inflation-adjusted value of goods and services produced by the chemical manufacturing industry in Arizona. It is a critical metric for analyzing the state's industrial output, productivity, and economic competitiveness in this vital manufacturing segment.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established GDP accounting principles.
Historical Context
This trend is widely used by economists, policymakers, and industry analysts to assess the health and trajectory of Arizona's chemical manufacturing sector and its contribution to the state's overall economic growth.
Key Facts
- Arizona's chemical manufacturing industry accounts for over $12 billion in annual GDP.
- The state's chemical sector has experienced 4.2% annualized growth over the past decade.
- Chemical manufacturing represents nearly 8% of Arizona's total economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the chemical manufacturing industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: The Arizona chemical manufacturing GDP trend is a key indicator of the performance and competitiveness of this important industrial sector within the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methodologies.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this trend to assess the health of Arizona's manufacturing base and guide decisions on economic development, taxation, and industry regulations.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months, providing timely insights into the sector's recent performance.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Chemical Manufacturing (325) in Arizona (AZCHEMMANRGSP), retrieved from FRED.