Real Gross Domestic Product: Retail Trade (44-45) in Arizona
AZRETAILRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31,820.50
Year-over-Year Change
53.16%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product: Retail Trade (44-45) in Arizona measures the inflation-adjusted economic output of the retail trade sector in the state. This statistic is a key indicator of consumer spending and 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: Retail Trade (44-45) in Arizona represents the total dollar value of all goods and services produced by the retail trade industry in the state, adjusted for inflation. Economists and policymakers closely monitor this metric to gauge consumer confidence and the overall health of the Arizona economy.
Methodology
This data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income accounting principles.
Historical Context
Trends in Arizona's retail GDP are closely watched by businesses, investors, and policymakers to inform decisions around economic policy, investment, and consumer behavior.
Key Facts
- Arizona's retail GDP accounts for over 16% of the state's total economic output.
- Retail trade is the second-largest industry in Arizona, employing over 400,000 workers.
- The retail GDP metric is adjusted for inflation to provide a real measure of economic activity.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product: Retail Trade (44-45) in Arizona measures the inflation-adjusted economic output of the retail trade sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of consumer spending and overall economic activity in Arizona, providing important insights for businesses, investors, and policymakers.
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 income accounting principles.
Q: How is this trend used in economic policy?
A: Trends in Arizona's retail GDP are closely watched to inform decisions around economic policy, investment, and consumer behavior.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 1-2 month delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Retail Trade (44-45) in Arizona (AZRETAILRGSP), retrieved from FRED.