Real Gross Domestic Product: Private Industries in Arizona
AZPIRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
386,876.00
Year-over-Year Change
51.96%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product: Private Industries in Arizona tracks the real economic output of private businesses in the state, providing insight into Arizona's economic growth and performance.
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 measures the total value of goods and services produced by private industries in Arizona, adjusted for inflation. It is a key indicator of the state's economic health and productivity, and is used by policymakers and analysts to assess Arizona's economic conditions and outlook.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is widely referenced by economists, businesses, and policymakers to understand Arizona's economic performance and trends.
Key Facts
- Arizona's private industries account for over 80% of the state's GDP.
- The real GDP of Arizona's private sector has grown by over 30% since 2010.
- The construction and technology sectors are major drivers of Arizona's private industry GDP.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the real, inflation-adjusted gross domestic product (GDP) generated by private businesses and industries operating in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: The Real Gross Domestic Product: Private Industries in Arizona is a key indicator of the state's overall economic health and productivity, and is closely watched by policymakers, businesses, and economists.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This metric is widely used by Arizona state government, businesses, and economists to analyze the state's economic conditions, forecast future growth, and inform policy decisions.
Q: Are there update delays or limitations?
A: The Real Gross Domestic Product: Private Industries in Arizona data is published quarterly with a lag of several months, so there may be delays in accessing the most recent figures.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Private Industries in Arizona (AZPIRGSP), retrieved from FRED.