Chain-Type Quantity Index for Real GDP: Data Processing, Hosting, and Other Information Services (518-519) in Arizona
AZDATAWWWQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
190.88
Year-over-Year Change
274.08%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Data Processing, Hosting, and Other Information Services (518-519) in Arizona measures the real output of the data processing and hosting industries 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 inflation-adjusted value of goods and services produced by data processing, hosting, and related information services businesses in Arizona. It is an important indicator of productivity and economic growth in the state's tech and information sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This index provides insights into the performance of Arizona's information services industry, which is crucial for policymakers and businesses monitoring the state's economic conditions.
Key Facts
- Arizona's data processing and hosting industries accounted for over $4.5 billion in real GDP in 2021.
- This index has grown by an average of 7.2% annually over the past 5 years.
- The information services sector comprises nearly 4% of Arizona's total economic output.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the data processing, hosting, and related information services industries in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the performance and productivity of Arizona's information services sector, which is a key driver of the state's economic growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This index is used by policymakers, economists, and businesses to monitor the state of Arizona's information services industry and inform economic policies and investment decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Data Processing, Hosting, and Other Information Services (518-519) in Arizona (AZDATAWWWQGSP), retrieved from FRED.