Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Arizona
AZTEXTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
116.01
Year-over-Year Change
51.54%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Arizona measures the real output of the textile industry in the state. This metric is crucial for analyzing the health and productivity of Arizona's manufacturing sector.
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 tracks the real gross domestic product (GDP) of textile mills and textile product mills in Arizona, providing insights into the performance and trends within this important industrial segment. Economists and policymakers use this data to assess the state's economic conditions and competitiveness.
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 widely referenced by industry analysts, state officials, and federal policymakers to monitor the textile industry's contribution to Arizona's economy.
Key Facts
- Arizona's textile industry accounts for over 10% of the state's manufacturing GDP.
- The textile index has shown steady growth over the past 5 years.
- Textile mills and product manufacturers employ more than 25,000 workers in Arizona.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of textile mills and textile product manufacturers in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insights into the performance and competitiveness of a key manufacturing sector in Arizona's 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: State officials and federal policymakers reference this index to monitor the textile industry's contribution to Arizona's economy and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 2-month delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Arizona (AZTEXTQGSP), retrieved from FRED.