Real Gross Domestic Product: State and Local in Arizona
AZGOVSLRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34,455.00
Year-over-Year Change
10.49%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product: State and Local in Arizona measures the inflation-adjusted total economic output of the state and local government sector in Arizona. This metric is crucial for understanding the economic health and policy priorities of 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: State and Local in Arizona represents the total value of goods and services produced by state and local government entities within the state, adjusted for inflation. It is a key indicator of the size and performance of the public sector's economic contributions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Historical Context
Policymakers and economists analyze this trend to assess the fiscal condition and economic role of Arizona's state and local governments.
Key Facts
- Arizona's state and local real GDP grew by 2.8% in 2021.
- The public sector accounts for 12.3% of Arizona's total economic output.
- Government spending has a significant multiplier effect on the state's economy.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product: State and Local in Arizona measures the total economic output of state and local government entities within the state, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for understanding the fiscal condition, economic role, and policy priorities of Arizona's public sector.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this trend to assess the economic health and contributions of Arizona's state and local governments.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical delay of 2-3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: State and Local in Arizona (AZGOVSLRGSP), retrieved from FRED.