Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Arizona
AZPLASRUBMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
631.30
Year-over-Year Change
32.38%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the plastics and rubber products manufacturing industry in Arizona. It provides insights into the economic performance and productivity of this critical manufacturing sector in the state.
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
The real GDP for plastics and rubber products manufacturing in Arizona represents the total value of goods and services produced by this industry, adjusted for inflation. It is a key indicator of the industry's economic health and contribution to the state's overall economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is widely used by policymakers, economists, and market analysts to assess the competitiveness and growth potential of Arizona's manufacturing sector.
Key Facts
- Arizona is a major hub for plastics and rubber products manufacturing.
- This industry accounts for over 10% of the state's total manufacturing output.
- Real GDP in this sector has grown by 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the plastics and rubber products manufacturing industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the economic performance and productivity of a key manufacturing sector in Arizona, which is essential for understanding the state's overall economic growth and competitiveness.
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 accounting principles.
Q: How is this trend used in economic policy?
A: This trend is widely used by policymakers, economists, and market analysts to assess the competitiveness and growth potential of Arizona's manufacturing sector, which informs economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with a slight delay to allow for comprehensive data collection and analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Arizona (AZPLASRUBMANRGSP), retrieved from FRED.