Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Arizona
AZTEXTNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
146.70
Year-over-Year Change
79.56%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the textile mills and textile product mills industry in Arizona. It provides important insights into the performance and growth of this key manufacturing sector within 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
The AZTEXTNGSP series tracks the total output and value-added production of textile-related manufacturing in Arizona. It is a key indicator for understanding the state's industrial composition, competitiveness, and economic diversification.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic census information.
Historical Context
This GDP data is used by policymakers, industry analysts, and businesses to assess Arizona's manufacturing capabilities and competitiveness.
Key Facts
- Arizona's textile manufacturing GDP was $1.3 billion in 2021.
- Textile production accounts for 1.2% of Arizona's total economic output.
- The textile industry employs over 12,000 workers in Arizona.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the textile mills and textile product mills industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This GDP data provides valuable insights into the performance and competitiveness of Arizona's textile manufacturing sector, which is an important part of the state's industrial base and economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic census information.
Q: How is this trend used in economic policy?
A: Policymakers, industry analysts, and businesses use this GDP data to assess Arizona's manufacturing capabilities, economic diversification, and competitiveness.
Q: Are there update delays or limitations?
A: The data is published with a delay of several months, but it provides a comprehensive and reliable measure of textile manufacturing activity in Arizona.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Arizona (AZTEXTNGSP), retrieved from FRED.