Real Gross Domestic Product: Government and Government Enterprises (92) in Arizona
AZGOVRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
46,993.80
Year-over-Year Change
10.50%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of government and government enterprises in the state of Arizona. It provides insight into the economic activity and contribution of the public sector in the state.
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: Government and Government Enterprises (92) in Arizona series tracks the inflation-adjusted value-added output of government and government enterprises within the Arizona economy. This metric is widely used by economists and policymakers to analyze the role of the public sector and its impact on overall state economic performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for understanding the fiscal and economic policies influencing Arizona's public sector and its relationship to the broader state economy.
Key Facts
- Arizona's government and government enterprises account for over 15% of the state's total GDP.
- Real government GDP in Arizona has grown by an average of 2.5% annually over the past decade.
- The public sector is a major employer and driver of economic activity in Arizona.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the government and government enterprises sector in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: The government GDP trend provides important insights into the economic contribution and performance of the public sector in Arizona, which is a key part of the state's overall 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: Analysts and policymakers use this trend to understand the fiscal and economic policies influencing Arizona's public sector and its relationship to the broader state economy.
Q: Are there update delays or limitations?
A: There may be a lag of several months between the end of a reporting period and the publication of the latest data for this trend.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Government and Government Enterprises (92) in Arizona (AZGOVRGSP), retrieved from FRED.