Gross Domestic Product: Warehousing and Storage (493) in Arizona
AZWARESTORNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,885.40
Year-over-Year Change
445.34%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Warehousing and Storage (493) in Arizona measures the economic output of the warehousing and storage industry in the state. This metric is important for analyzing regional economic trends and industry performance.
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 dollar value of goods and services produced by the warehousing and storage industry in Arizona. It is a key indicator of the state's logistics and distribution sector, which plays a vital role in the broader economy.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis as part of its regional GDP reporting.
Historical Context
Policymakers and economists use this metric to assess the health and competitiveness of Arizona's logistics infrastructure.
Key Facts
- Arizona's warehousing and storage GDP was $4.2 billion in 2021.
- The industry accounts for 2.1% of the state's total economic output.
- Warehousing GDP has grown by 24% in Arizona over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real dollar value of goods and services produced by the warehousing and storage industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of the health and competitiveness of Arizona's logistics infrastructure, which is crucial for regional economic performance.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis as part of its regional GDP reporting.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the state's logistics capabilities and make informed decisions about infrastructure investments and industry support.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Warehousing and Storage (493) in Arizona (AZWARESTORNGSP), retrieved from FRED.