Gross Domestic Product: Transit and Ground Passenger Transportation (485) in Arizona
AZTRANGRNDTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,143.90
Year-over-Year Change
90.43%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the transit and ground passenger transportation industry in Arizona. It provides insight into the performance and economic contribution of this sector within the state.
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 GDP for the transit and ground passenger transportation industry in Arizona is an important indicator of economic activity and productivity in this transportation-related sector. It helps policymakers and analysts understand the role of this industry in the overall state 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 used by economists, policymakers, and transportation planners to assess the economic health and competitiveness of Arizona's passenger transportation industry.
Key Facts
- Arizona's transit and ground passenger transportation GDP was $2.7 billion in 2021.
- This industry accounts for 1.2% of Arizona's total gross domestic product.
- The GDP for this sector has grown by 15% in Arizona over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the transit and ground passenger transportation industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the economic performance and contribution of the passenger transportation sector in Arizona, which is important for policymakers, planners, and industry analysts.
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 trend is used by economists, policymakers, and transportation planners to assess the economic health and competitiveness of Arizona's passenger transportation industry, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically 1-2 quarters behind the current period.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Transit and Ground Passenger Transportation (485) in Arizona (AZTRANGRNDTRANNGSP), retrieved from FRED.