Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Arizona
AZDURMANRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32,695.20
Year-over-Year Change
5.89%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Arizona measures the inflation-adjusted value of output from the durable goods manufacturing sector in the state. This key economic indicator provides insights into the health and productivity 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 series represents the real, or inflation-adjusted, gross domestic product (GDP) of the durable goods manufacturing sector in Arizona. Durable goods are products designed to last three years or more, such as machinery, electronics, and transportation equipment. Analyzing trends in this data can help policymakers and economists understand the dynamics of the state's manufacturing base and its broader economic performance.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level production and price information.
Historical Context
Trends in durable goods manufacturing GDP are closely watched by economists and policymakers as an indicator of overall economic conditions and the strength of the industrial sector.
Key Facts
- Arizona's durable goods manufacturing GDP was $33.7 billion in 2021.
- The sector accounts for over 7% of the state's total economic output.
- Manufacturing employment in Arizona grew by 4.2% in 2022.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the durable goods manufacturing sector in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: Trends in durable goods manufacturing GDP provide insights into the health and productivity of Arizona's industrial base, which is an important driver of the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level production and price information.
Q: How is this trend used in economic policy?
A: Economists and policymakers closely monitor durable goods manufacturing GDP as an indicator of overall economic conditions and the strength of the industrial sector, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to periodic revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Arizona (AZDURMANRQGSP), retrieved from FRED.