Chain-Type Quantity Index for Real GDP: Nonmetallic Mineral Product Manufacturing (327) in Arizona
AZNMMPMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
112.90
Year-over-Year Change
51.10%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Nonmetallic Mineral Product Manufacturing (327) in Arizona measures the inflation-adjusted output of this manufacturing sector in the state. It is a key indicator of economic activity and productivity in this 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 output of nonmetallic mineral product manufacturing in Arizona, which includes the production of items like glass, cement, and ceramics. It is used by economists and policymakers to assess the health and trends within this important manufacturing segment of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
This index provides insight into the performance of a crucial industrial sector and can inform economic and policy decisions at the state level.
Key Facts
- Arizona is a major producer of cement, glass, and other nonmetallic mineral products.
- This index has shown steady growth over the past decade.
- The nonmetallic mineral manufacturing sector accounts for over 5% of Arizona's total GDP.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted output of the nonmetallic mineral product manufacturing sector in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the performance and productivity of an important manufacturing industry in Arizona, which can inform economic and policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Q: How is this trend used in economic policy?
A: This index can be used by economists and policymakers to assess the health and trends within the nonmetallic mineral manufacturing sector, which is crucial for Arizona's economy.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the Federal Reserve, and there may be some delay in the most recent figures being available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Nonmetallic Mineral Product Manufacturing (327) in Arizona (AZNMMPMANQGSP), retrieved from FRED.