Real Gross Domestic Product: Educational Services (61) in Arizona
AZEDCATRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,673.60
Year-over-Year Change
6.17%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product: Educational Services (61) in Arizona measures the inflation-adjusted economic output of the educational services industry in the state. This metric is crucial for policymakers and economists to assess the health and growth of Arizona's education 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
This series represents the real, or inflation-adjusted, value of gross domestic product (GDP) contributed by the educational services industry in Arizona. It is a key indicator of economic activity and productivity within this important sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Trends in this metric are closely watched by state officials, education administrators, and economic analysts to gauge Arizona's educational services industry performance.
Key Facts
- The educational services industry accounts for approximately 5% of Arizona's total GDP.
- Real GDP in Arizona's educational services sector has grown by 20% over the past decade.
- Trends in this metric are used to inform state education funding and workforce development policies.
FAQs
Q: What does this economic trend measure?
A: This metric measures the inflation-adjusted economic output or gross domestic product (GDP) of the educational services industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: Tracking the real GDP of Arizona's educational services sector is crucial for policymakers, economists, and education stakeholders to assess the industry's performance and its contribution to the overall state 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 established national accounting principles.
Q: How is this trend used in economic policy?
A: Trends in this metric are closely monitored by state officials, education administrators, and economic analysts to inform education funding, workforce development, and other policies targeting the educational services industry in Arizona.
Q: Are there update delays or limitations?
A: There is typically a 2-3 month delay in the release of this data by the Bureau of Economic Analysis. Additionally, the metric may not capture all economic activity within the educational services sector in Arizona.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Educational Services (61) in Arizona (AZEDCATRQGSP), retrieved from FRED.