Gross Domestic Product: Trade (42, 44-45) in Arizona
AZTRADENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
70,574.30
Year-over-Year Change
89.89%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Trade (42, 44-45) in Arizona measures the economic output of the trade industry in the state, including wholesale and retail trade. This metric is crucial for understanding Arizona's economic performance and the role of the trade 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 data series represents the total gross domestic product (GDP) generated by the trade industry in Arizona, which includes wholesale (NAICS 42) and retail (NAICS 44-45) trade activities. It provides insights into the size and importance of the trade sector within the state's overall economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their comprehensive GDP reporting program.
Historical Context
Economists and policymakers use this trend to assess the health and competitiveness of Arizona's trade industry, which is a significant driver of economic activity in the state.
Key Facts
- Arizona's trade industry accounts for over 20% of the state's total GDP.
- The trade sector has experienced steady growth in Arizona over the past decade.
- Wholesale trade makes up a larger share of the state's trade GDP than retail trade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total gross domestic product (GDP) generated by the trade industry in the state of Arizona, including both wholesale and retail trade activities.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the role and performance of the trade sector within Arizona's broader economy, which is a significant driver of economic activity in the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their comprehensive GDP reporting program.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to assess the health and competitiveness of Arizona's trade industry, which is crucial for informing economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is typically published with a few months' delay and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Trade (42, 44-45) in Arizona (AZTRADENGSP), retrieved from FRED.