Chain-Type Quantity Index for Real GDP: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Arizona
AZRENTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
134.27
Year-over-Year Change
97.04%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Arizona measures the inflation-adjusted output of the rental and leasing sector in the state's economy.
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 changes in the real, volume-adjusted production of rental and leasing services in Arizona, a key indicator of activity in the state's service-based industries. Economists use this metric to assess overall economic conditions and the role of the service sector.
Methodology
The data is calculated based on Bureau of Economic Analysis statistics for the relevant NAICS industry codes.
Historical Context
Policymakers and analysts monitor this trend to understand service-sector dynamics and their impact on the broader Arizona economy.
Key Facts
- The index is based on 2012 as the base year.
- Rental and leasing services account for over 5% of Arizona's GDP.
- The sector has seen steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This index tracks changes in the real, inflation-adjusted output of the rental and leasing services industry in Arizona's economy.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance of a key service sector in the Arizona economy, which is important for assessing overall economic conditions in the state.
Q: How is this data collected or calculated?
A: The data is calculated based on statistics from the Bureau of Economic Analysis for the relevant NAICS industry codes.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to understand the dynamics of Arizona's service sector and its impact on the broader state economy.
Q: Are there update delays or limitations?
A: The data is released quarterly by the Federal Reserve with a lag of several months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Arizona (AZRENTQGSP), retrieved from FRED.