Chain-Type Quantity Index for Real GDP: Transit and Ground Passenger Transportation (485) in Arizona
AZTRANGRNDTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
151.05
Year-over-Year Change
75.83%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Transit and Ground Passenger Transportation (485) in Arizona measures the volume of transportation services output in the state. This indicator is a key statistic for analyzing the health and trends within Arizona's transportation 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 output of transit and ground passenger transportation services in Arizona, a crucial component of the state's economy. Economists and policymakers monitor this indicator to assess productivity, efficiency, and growth within the local transportation industry.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index approach.
Historical Context
Trends in this index provide insights into the performance of Arizona's transportation markets and the broader economic environment.
Key Facts
- The base year for this index is 2012.
- Arizona's transportation sector accounts for over 4% of the state's total GDP.
- The index reached its highest level on record in 2019.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output volume of transit and ground passenger transportation services in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: Tracking this indicator provides insights into the productivity and performance of Arizona's transportation industry, which is a critical component of the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index approach.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this index to assess the health of Arizona's transportation markets and inform decisions related to infrastructure investment, regulation, and economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Transit and Ground Passenger Transportation (485) in Arizona (AZTRANGRNDTRANQGSP), retrieved from FRED.