Gross Domestic Product: Retail Trade (44-45) in Arizona
AZRETAILNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41,503.60
Year-over-Year Change
15.12%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product (GDP): Retail Trade (44-45) in Arizona metric measures the total value of retail trade activity in the state's economy. It is a key indicator of consumer spending and economic growth.
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 GDP series represents the total production or output of Arizona's retail trade sector, which includes businesses involved in selling merchandise and providing services directly to consumers. It is an important gauge of consumer demand and confidence in the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using inputs from business surveys and other government sources.
Historical Context
Policymakers and analysts monitor this metric to assess the health of Arizona's consumer-driven economy and make informed decisions.
Key Facts
- Arizona's retail GDP reached $78 billion in 2021.
- Retail trade accounts for over 11% of Arizona's total economic output.
- The sector employs more than 450,000 workers in the state.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP): Retail Trade (44-45) in Arizona metric measures the total value of retail trade activity in the state's economy.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important gauge of consumer demand and confidence in Arizona, providing insights into the health of the state's consumer-driven economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using inputs from business surveys and other government sources.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this metric to assess the health of Arizona's consumer-driven economy and make informed decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a delay of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Retail Trade (44-45) in Arizona (AZRETAILNQGSP), retrieved from FRED.