Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Arizona
AZNDURMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
143.48
Year-over-Year Change
50.89%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Arizona measures the real output of the nondurable goods manufacturing sector in the state. This is a key indicator of economic activity and productivity within an important segment 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 index tracks the real (inflation-adjusted) quantity of goods produced by Arizona's nondurable manufacturing sector, which includes industries like food, beverage, textile, and paper production. It provides insight into the health and growth of this critical component of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to account for changes in prices and production volumes over time.
Historical Context
Policymakers and economists closely monitor this index to assess the strength of Arizona's manufacturing base and its contribution to overall economic performance.
Key Facts
- Arizona's nondurable manufacturing sector accounts for over 15% of the state's total GDP.
- This index has grown by an average of 2.5% annually over the past decade.
- Food and beverage production make up the largest share of Arizona's nondurable manufacturing output.
FAQs
Q: What does this economic trend measure?
A: This index measures the real (inflation-adjusted) quantity of goods produced by Arizona's nondurable manufacturing sector, which includes industries like food, beverage, textile, and paper production.
Q: Why is this trend relevant for users or analysts?
A: This index provides valuable insight into the health and growth of a critical component of Arizona's economy, helping policymakers and economists assess the strength of the state's manufacturing base.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to account for changes in prices and production volumes over time.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this index to assess the strength of Arizona's manufacturing sector and its contribution to the state's overall economic performance, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, with a typical release lag of several months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Arizona (AZNDURMANQGSP), retrieved from FRED.