Chain-Type Quantity Index for Real GDP: Insurance Carriers and Related Activities (524) in Arizona
AZINSCRAQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
152.02
Year-over-Year Change
57.03%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Insurance Carriers and Related Activities (524) in Arizona measures the inflation-adjusted output of the insurance industry in the state. This metric is a key indicator of economic activity and productivity in the financial services sector.
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 GDP, or inflation-adjusted gross domestic product, generated by the insurance industry in Arizona. It is a measure of the volume of insurance-related goods and services produced, adjusted for price changes over time. Economists and policymakers use this data to assess the health and growth of the state's insurance sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-type index formula.
Historical Context
This economic trend is relevant for understanding the performance and contributions of Arizona's insurance industry within the broader state economy.
Key Facts
- Arizona's insurance industry generates over $20 billion in real GDP annually.
- The insurance sector accounts for 4% of Arizona's total economic output.
- Real GDP in Arizona's insurance industry has grown by 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted, or real, gross domestic product (GDP) generated by the insurance industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the performance and contributions of Arizona's insurance sector to the broader state 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 a chain-type index formula.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this data to assess the health and growth of Arizona's insurance industry, which is a key component of the state's financial services sector.
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, Chain-Type Quantity Index for Real GDP: Insurance Carriers and Related Activities (524) in Arizona (AZINSCRAQGSP), retrieved from FRED.