Real Gross Domestic Product: Machinery Manufacturing (333) in Arizona
AZMACHMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,270.90
Year-over-Year Change
42.81%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the machinery manufacturing industry (NAICS 333) in the state of Arizona. It provides insight into the economic output and productivity of this crucial manufacturing sector within 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: Machinery Manufacturing (333) in Arizona is a series that tracks the inflation-adjusted economic output of the machinery manufacturing industry in Arizona. This metric is used by economists and policymakers to assess the health and competitiveness of Arizona's manufacturing base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established GDP accounting methods.
Historical Context
Trends in machinery manufacturing GDP are closely watched by industry analysts and state economic development agencies to inform policy and investment decisions.
Key Facts
- Machinery manufacturing accounts for over 10% of Arizona's total GDP.
- Arizona's machinery manufacturing GDP has grown by 20% over the past 5 years.
- The sector employs more than 50,000 workers in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the machinery manufacturing industry (NAICS 333) in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and economic output of a key manufacturing sector in Arizona, which is useful for assessing the state's economic competitiveness and informing policy decisions.
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 GDP accounting methods.
Q: How is this trend used in economic policy?
A: Trends in machinery manufacturing GDP are closely watched by industry analysts and state economic development agencies to inform policy and investment decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Machinery Manufacturing (333) in Arizona (AZMACHMANRGSP), retrieved from FRED.