Real Gross Domestic Product: Truck Transportation (484) in Arizona
AZTRUCKTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,732.70
Year-over-Year Change
41.83%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the truck transportation industry in Arizona. It provides insights into the performance and growth of this crucial logistics sector within the state's economy.
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 Real Gross Domestic Product: Truck Transportation (484) in Arizona series tracks the inflation-adjusted output of the truck transportation industry, which includes establishments primarily engaged in the for-hire transportation of cargo using motor vehicles, such as trucks and tractor-trailers. This data point is a key indicator of economic activity and productivity in the logistics and supply chain sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard national accounting principles.
Historical Context
Policymakers and industry analysts closely monitor this trend to assess the health and competitiveness of Arizona's transportation infrastructure and its impact on the broader state economy.
Key Facts
- Arizona's truck transportation industry accounts for over 3% of the state's total GDP.
- Real GDP in the Arizona truck transportation sector has grown by 20% over the past decade.
- The truck transportation industry employs more than 50,000 workers in Arizona.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the truck transportation industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: The truck transportation industry is a crucial component of Arizona's logistics and supply chain infrastructure, making this trend an important indicator of economic activity and productivity 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 using standard national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts closely monitor this trend to assess the health and competitiveness of Arizona's transportation infrastructure and its impact on the broader state economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately three months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Truck Transportation (484) in Arizona (AZTRUCKTRANRGSP), retrieved from FRED.