Real Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Arizona
AZRENTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,357.50
Year-over-Year Change
97.04%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) for the rental and leasing services and lessors of nonfinancial intangible assets industry in Arizona. It provides insights into the performance and contribution of this sector to the state's overall economic activity.
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 Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Arizona metric tracks the inflation-adjusted value added by this industry to the state's GDP. It is an important indicator for analyzing the health and growth of Arizona's service-based 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 used by economists, policymakers, and businesses to assess the economic conditions and development in Arizona's rental and leasing services sector.
Key Facts
- Arizona's rental and leasing services sector contributed $X.X billion to the state's GDP in 20XX.
- This industry has seen an average annual growth rate of X.X% over the past 5 years.
- The rental and leasing services sector accounts for approximately X% of Arizona's total economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the rental and leasing services and lessors of nonfinancial intangible assets industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and contribution of Arizona's rental and leasing services sector to the state's overall economic activity, which is important for analyzing the health and growth of the service-based economy.
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 used by economists, policymakers, and businesses to assess the economic conditions and development in Arizona's rental and leasing services sector, which can inform policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and limitations of the U.S. Bureau of Economic Analysis' GDP statistics.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Arizona (AZRENTRGSP), retrieved from FRED.