Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Arizona
AZDURMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
154.01
Year-over-Year Change
63.67%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Arizona measures the inflation-adjusted output of the durable goods manufacturing sector in the state. This metric is crucial for economists and policymakers to assess the health and growth of Arizona's manufacturing industry.
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 volume of real GDP, or inflation-adjusted economic output, generated by durable goods manufacturers in Arizona. It encompasses a wide range of industries, including furniture, motor vehicles, and computers. The data provides insight into the productivity and competitiveness of the state's manufacturing base.
Methodology
The index is calculated by the U.S. Bureau of Economic Analysis using data on production and sales.
Historical Context
Policymakers and analysts use this metric to gauge the impact of economic conditions and policy decisions on Arizona's manufacturing sector.
Key Facts
- The index has a base year of 2012.
- Arizona's durable goods manufacturing sector accounts for over 10% of the state's GDP.
- The index has shown steady growth since the 2008-2009 recession.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted output, or real GDP, of the durable goods manufacturing sector in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insight into the productivity and competitiveness of Arizona's manufacturing base, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Economic Analysis using data on production and sales.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge the impact of economic conditions and policy decisions on Arizona's manufacturing sector.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis with a slight delay, but provides a comprehensive and reliable assessment of the state's durable goods manufacturing activity.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Arizona (AZDURMANQGSP), retrieved from FRED.