Chain-Type Quantity Index for Real GDP: Military in Arizona
AZGOVFEDMILQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
104.33
Year-over-Year Change
-5.24%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Military in Arizona measures the inflation-adjusted output of the military sector in the state. This metric is important for understanding Arizona's economic performance and the role of defense-related activity.
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 index tracks the real, inflation-adjusted quantity of goods and services produced by the military sector in Arizona. It is a valuable indicator of the state's economic structure and how defense spending and activities contribute to overall GDP.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index formula applied to real GDP figures.
Historical Context
This trend is closely watched by policymakers, military analysts, and economists to assess the economic impact of the defense industry in Arizona.
Key Facts
- Arizona has a large military presence, including several major bases.
- The military sector accounts for a significant portion of Arizona's GDP.
- This index tracks changes in real military output over time.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted output of the military sector in the state of Arizona as part of the state's overall GDP.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the role of the defense industry in Arizona's economy and how it contributes to 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 a chain-type index formula applied to real GDP figures.
Q: How is this trend used in economic policy?
A: This trend is closely watched by policymakers, military analysts, and economists to assess the economic impact of the defense industry in Arizona and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Federal Reserve, but there may be some delays in reporting due to the complexity of calculating real GDP figures.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Military in Arizona (AZGOVFEDMILQGSP), retrieved from FRED.