Real Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Arizona
AZFININSREALRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
100,842.90
Year-over-Year Change
39.86%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) for the finance, insurance, real estate, rental, and leasing sectors in the state of Arizona. It provides insights into the productivity and growth of these 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 Real Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Arizona trend tracks the inflation-adjusted economic output of these related industries over time. It is a valuable indicator of the overall health and competitiveness of these service-based sectors in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting methods.
Historical Context
This economic indicator is widely used by policymakers, analysts, and businesses to assess the performance and outlook of Arizona's finance, insurance, and real estate industries.
Key Facts
- Arizona's finance, insurance, and real estate sectors account for over 20% of the state's GDP.
- This trend has shown steady growth over the past decade, outpacing the national average.
- The real estate industry is a major driver of this sector, comprising nearly half of the total economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the finance, insurance, real estate, rental, and leasing sectors in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides valuable insights into the productivity and growth of these key service-based industries within Arizona's economy, which are important for policymakers, businesses, and economists to monitor.
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 methods.
Q: How is this trend used in economic policy?
A: This economic indicator is widely used by policymakers, analysts, and businesses to assess the performance and outlook of Arizona's finance, insurance, and real estate industries, which are crucial to the state's overall economic development.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule by the U.S. Bureau of Economic Analysis, but there may be some lag time between the reporting period and the public release of the information.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Arizona (AZFININSREALRGSP), retrieved from FRED.