Gross Domestic Product: Manufacturing (31-33) in Arizona
AZMANNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
46,157.20
Year-over-Year Change
18.96%
Date Range
1/1/2005 - 1/1/2025
Summary
The 'Gross Domestic Product: Manufacturing (31-33) in Arizona' series measures the total economic output of the manufacturing sector in the state of Arizona. This data is crucial for understanding the health and competitiveness of Arizona's manufacturing industry.
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 series represents the gross domestic product (GDP) generated by the manufacturing sector in Arizona, which includes industries such as food production, chemical manufacturing, and machinery. It is an important indicator of the state's industrial productivity and economic diversification.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including surveys and administrative records.
Historical Context
Policymakers and business leaders use this data to inform decisions related to economic development, trade, and workforce planning.
Key Facts
- Arizona's manufacturing GDP was $33.7 billion in 2021.
- The manufacturing sector accounts for 10% of Arizona's total GDP.
- Arizona's manufacturing output has grown by 3.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: The 'Gross Domestic Product: Manufacturing (31-33) in Arizona' series measures the total economic output of the manufacturing sector in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for understanding the health and competitiveness of Arizona's manufacturing industry, which is a key driver of the state's 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 variety of sources, including surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and business leaders use this data to inform decisions related to economic development, trade, and workforce planning in Arizona.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with a lag of several months. There may also be revisions to historical data as more information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Manufacturing (31-33) in Arizona (AZMANNQGSP), retrieved from FRED.