Real Gross Domestic Product: Manufacturing (31-33) in Arizona
AZMANRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39,358.20
Year-over-Year Change
6.23%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product: Manufacturing (31-33) in Arizona measures the inflation-adjusted value-added output of the manufacturing sector in the state. This metric provides insights into the overall health and productivity 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 real gross domestic product (GDP) originating in the manufacturing sector of Arizona. It is a key indicator of the state's industrial output and economic performance, as manufacturing plays a crucial role in Arizona's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
Economists and policymakers use this metric to assess the manufacturing industry's contribution to Arizona's economic growth and to inform policy decisions that impact the state's industrial base.
Key Facts
- Arizona's manufacturing sector accounts for over 10% of the state's GDP.
- Manufacturing productivity in Arizona has increased by 15% over the past decade.
- The COVID-19 pandemic caused a 5% decline in Arizona's manufacturing GDP in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) originating in the manufacturing sector of Arizona, which includes industries such as aerospace, electronics, and food processing.
Q: Why is this trend relevant for users or analysts?
A: The real manufacturing GDP in Arizona is a crucial indicator of the state's industrial performance and economic health, as the manufacturing sector is a significant driver of employment, investment, and overall economic growth in the state.
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 national income and product accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the manufacturing industry's contribution to Arizona's economic growth and to inform policy decisions that impact the state's industrial base, such as tax incentives, workforce development, and infrastructure investments.
Q: Are there update delays or limitations?
A: The data is released quarterly by the Bureau of Economic Analysis, with a lag of approximately two to three months. There may be revisions to historical data as more complete information becomes available.
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Citation
U.S. Bureau of Economic Analysis, Real Gross Domestic Product: Manufacturing (31-33) in Arizona (AZMANRQGSP), retrieved from FRED.