Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Arizona
AZFININSREALNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
132,117.60
Year-over-Year Change
116.20%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the Gross Domestic Product (GDP) of the finance, insurance, real estate, rental, and leasing sectors in the state of Arizona. It provides valuable insights into the performance of key industries within the state's economy.
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 AZFININSREALNGSP series represents the GDP contribution of the finance, insurance, real estate, rental, and leasing industries in Arizona. This data is widely used by economists, policymakers, and market analysts to assess the health and growth of these critical economic sectors within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks.
Historical Context
This trend is important for understanding the role of the finance, insurance, and real estate industries in Arizona's overall economic landscape and policy decisions.
Key Facts
- Arizona's finance, insurance, and real estate sectors account for over 20% of the state's GDP.
- The AZFININSREALNGSP trend has shown steady growth over the past decade, outpacing the national average.
- The real estate industry is the largest contributor to this GDP component in Arizona.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) contribution of the finance, insurance, real estate, rental, and leasing industries in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance of key economic sectors in Arizona, which is crucial for understanding the state's overall economic landscape and informing policy decisions.
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 frameworks.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and market analysts to assess the health and growth of the finance, insurance, and real estate industries in Arizona, which are critical to the state's overall economic performance.
Q: Are there update delays or limitations?
A: The AZFININSREALNGSP data is typically updated on a quarterly basis, with some potential for minor delays in publication.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Arizona (AZFININSREALNGSP), retrieved from FRED.