Real Gross Domestic Product: Trade (42, 44-45) in Arizona
AZTRADERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
52,254.80
Year-over-Year Change
36.25%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product: Trade (42, 44-45) in Arizona measures the output of the trade sector, including retail and wholesale trade, in the state's economy. This key economic indicator provides insights into Arizona's economic performance and 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 series represents the real, inflation-adjusted value added by the trade sector, including both retail and wholesale activities, to Arizona's overall gross domestic product. Economists and policymakers closely monitor this metric to assess the health and trajectory of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
This trend is widely used to inform economic and policy decisions at the state and local level in Arizona.
Key Facts
- Arizona's trade sector accounts for over 20% of the state's GDP.
- Real trade GDP in Arizona has grown by an average of 3% annually over the past decade.
- The trade industry is the second-largest employer in Arizona, supporting over 500,000 jobs.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real, inflation-adjusted output of Arizona's trade sector, which includes both retail and wholesale trade activities.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides key insights into the health and performance of Arizona's economy, as the trade sector is a major 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 as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists, policymakers, and business leaders in Arizona to inform economic and policy decisions at the state and local level.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Trade (42, 44-45) in Arizona (AZTRADERGSP), retrieved from FRED.