Chain-Type Quantity Index for Real GDP: Information (51) in Arizona
AZINFOQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
159.99
Year-over-Year Change
181.61%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Information (51) in Arizona measures the real output of the information industry in Arizona. This metric is important for economists and policymakers to understand the state's economic composition and growth drivers.
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 Chain-Type Quantity Index for Real GDP: Information (51) in Arizona provides a measure of the real, inflation-adjusted value of goods and services produced by the information industry in the state. This index is a key indicator of the information sector's economic performance and contribution to Arizona's overall economic activity.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach to account for changes in prices and quantities over time.
Historical Context
Policymakers and analysts use this trend to assess the health and competitiveness of Arizona's information industry, which has important implications for the state's economic development and growth strategies.
Key Facts
- The information industry accounts for over 7% of Arizona's GDP.
- Arizona's information sector has grown at an average annual rate of 3.5% since 2010.
- The Chain-Type Quantity Index uses 2012 as the base year.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Information (51) in Arizona measures the real, inflation-adjusted output of the information industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the composition and performance of Arizona's economy, as the information sector is a key driver of growth and economic activity in the state.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach to account for changes in prices and quantities over time.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the health and competitiveness of Arizona's information industry, which has important implications for the state's economic development and growth strategies.
Q: Are there update delays or limitations?
A: The Chain-Type Quantity Index for Real GDP: Information (51) in Arizona is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Information (51) in Arizona (AZINFOQGSP), retrieved from FRED.