Gross Domestic Product: Military in Arizona
AZGOVFEDMILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,123.60
Year-over-Year Change
31.54%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Gross Domestic Product: Military in Arizona' trend measures the economic activity related to the military sector in the state of Arizona. This metric is crucial for understanding the importance of the defense industry to Arizona'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
This series tracks the total output, or gross domestic product (GDP), generated by military-related economic activity in Arizona. It provides insight into the size and impact of the defense industry on the state's overall economic performance.
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 metric to evaluate the role of the military in Arizona's economy and inform decisions around defense spending and economic development.
Key Facts
- Arizona's military GDP accounts for a significant portion of the state's overall economic output.
- The defense industry is a major employer in Arizona, supporting thousands of jobs.
- Military-related economic activity has been a stable and growing component of Arizona's economy in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total gross domestic product (GDP) generated by military-related economic activity in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the size and impact of the defense industry on Arizona's overall economic performance, which is crucial information for policymakers and economic analysts.
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 metric to evaluate the role of the military in Arizona's economy and inform decisions around defense spending and economic development.
Q: Are there update delays or limitations?
A: The data is published on a regular schedule by the U.S. Bureau of Economic Analysis, with potential lags due to the comprehensive nature of the national accounts data.
Related Trends
Coefficient for Industrial Carbon Dioxide Emissions, Distillate Fuel for Arizona
EMISSCO2CDFICBAZA
Imports of Goods: Manufactured Commodities for Arizona
IMPMANAZ
Real Gross Domestic Product: Warehousing and Storage (493) in Arizona
AZWARESTORRGSP
Real Estate, Rental and Leasing Earnings in Arizona
AZEREA
Real Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Arizona
AZOTHTRANRGSP
Number of Identified Exporters to South Africa from Arizona
AZZAFA475SCEN
Citation
U.S. Federal Reserve, Gross Domestic Product: Military in Arizona (AZGOVFEDMILNGSP), retrieved from FRED.