Gross Domestic Product: Computer Systems Design and Related Services (5415) in Arizona
AZCPUSYSDSGNNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,609.10
Year-over-Year Change
110.27%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) for the computer systems design and related services industry in Arizona. It provides valuable insights into the productivity and economic performance of this key technology sector.
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 GDP for computer systems design and related services in Arizona represents the total value of goods and services produced by this industry within the state's economy. It is a crucial indicator for understanding the health and growth of Arizona's technology-driven economic activities.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Historical Context
This trend is widely used by policymakers, industry analysts, and businesses to assess the competitive position and growth prospects of Arizona's technology sector.
Key Facts
- Arizona's computer systems design GDP totaled $10.2 billion in 2021.
- This industry accounted for 3.7% of the state's total economic output.
- The sector grew by 8.2% year-over-year, outpacing overall state GDP growth.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) for the computer systems design and related services industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the productivity and economic performance of Arizona's technology sector, which is a key driver of 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 methods.
Q: How is this trend used in economic policy?
A: This trend is widely used by policymakers, industry analysts, and businesses to assess the competitive position and growth prospects of Arizona's technology sector, which informs economic development strategies and investment decisions.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with a lag of several months, which may limit its timeliness for some applications.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Computer Systems Design and Related Services (5415) in Arizona (AZCPUSYSDSGNNGSP), retrieved from FRED.