Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Arizona
AZDURMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32,576.10
Year-over-Year Change
63.67%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the real gross domestic product (GDP) of the durable goods manufacturing sector in Arizona. It provides insights into the economic output and productivity of this important industry 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: Durable Goods Manufacturing (321, 327-339) in Arizona metric tracks the inflation-adjusted value added by durable goods manufacturers to the state's overall economic activity. It is a key indicator of the health and competitiveness of this industrial segment.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and analysts use this trend to assess the competitive position of Arizona's durable goods manufacturers and inform economic development strategies.
Key Facts
- Arizona's durable goods manufacturers account for over 10% of the state's total economic output.
- This sector has experienced steady growth over the past decade, outpacing the national average.
- Durable goods production is a major driver of high-wage jobs and technological innovation in Arizona.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the durable goods manufacturing sector in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: The durable goods manufacturing sector is a critical component of Arizona's economy, and this metric provides insights into its productivity and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the performance of Arizona's durable goods manufacturers and inform economic development strategies.
Q: Are there update delays or limitations?
A: This data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 1-2 month delay from the end of the reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Arizona (AZDURMANRGSP), retrieved from FRED.