Gross Domestic Product: Insurance Carriers and Related Activities (524) in Arizona
AZINSCRANGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,073.80
Year-over-Year Change
88.63%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the gross domestic product (GDP) of the insurance carriers and related activities industry in Arizona. It provides insight into the economic performance and contribution of this sector to the state's overall 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
The Gross Domestic Product: Insurance Carriers and Related Activities (524) in Arizona metric tracks the total value of goods and services produced by this industry within the state. It is a key indicator of the sector's economic health and growth, which has implications for employment, investment, and consumer spending.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Historical Context
This trend is closely monitored by policymakers, analysts, and businesses to understand Arizona's economic landscape and make informed decisions.
Key Facts
- Arizona's insurance sector accounts for over 5% of the state's GDP.
- The industry has seen steady growth of 3-4% annually over the past decade.
- Insurance carriers and related activities employ over 50,000 people in Arizona.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the insurance carriers and related activities industry within the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic performance and contribution of Arizona's insurance sector, which is an important driver 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 as part of its regional GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers, analysts, and businesses closely monitor this trend to understand Arizona's economic landscape and make informed decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Insurance Carriers and Related Activities (524) in Arizona (AZINSCRANGSP), retrieved from FRED.