Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in Arizona
AZRERENTLEAQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
147.71
Year-over-Year Change
57.27%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in Arizona measures the real output of the real estate and rental/leasing sector in the state. This trend is an important indicator of economic activity and investment in Arizona's real estate market.
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 represents the quantity of real GDP produced by the real estate and rental/leasing industry in Arizona. It is used by economists and policymakers to track the performance and growth of this key sector of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Historical Context
The real estate and rental/leasing sector is a major driver of economic activity in Arizona, so this index provides valuable insights for businesses, investors, and state officials.
Key Facts
- The index has a base year of 2012.
- The real estate and rental/leasing sector accounts for over 15% of Arizona's GDP.
- This index has shown steady growth in recent years, reflecting the state's vibrant real estate market.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real output or quantity of goods and services produced by the real estate and rental/leasing industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This index provides valuable insights into the performance and growth of a key sector of Arizona's economy, which is important for businesses, investors, and policymakers.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Q: How is this trend used in economic policy?
A: This index is used by economists and state officials to monitor the health of Arizona's real estate market and inform economic policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical lag of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in Arizona (AZRERENTLEAQGSP), retrieved from FRED.