Gross Domestic Product: Accommodation and Food Services (72) in Arizona
AZACCFDNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20,727.00
Year-over-Year Change
115.06%
Date Range
1/1/1997 - 1/1/2024
Summary
This series measures the gross domestic product (GDP) for the accommodation and food services industry in Arizona. It is a key indicator of economic activity and consumer spending in 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 Gross Domestic Product: Accommodation and Food Services (72) in Arizona series tracks the total value of goods and services produced by the accommodation and food services sector in the state. This metric is used by economists and policymakers to gauge the health and performance of Arizona's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Historical Context
Trends in this series can inform decisions around economic and fiscal policy in Arizona.
Key Facts
- Arizona's accommodation and food services GDP was $12.3 billion in 2021.
- This sector accounts for over 4% of Arizona's total economic output.
- GDP in this industry grew by 18% in Arizona from 2020 to 2021.
FAQs
Q: What does this economic trend measure?
A: This series measures the gross domestic product (GDP) for the accommodation and food services industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: Trends in Arizona's accommodation and food services GDP provide insight into consumer spending patterns and the overall health of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Q: How is this trend used in economic policy?
A: Policymakers and economists can use this metric to inform decisions around fiscal, monetary, and economic development policies in Arizona.
Q: Are there update delays or limitations?
A: The data is typically published with a 3-month lag, and may be subject to periodic revisions by the source agency.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Accommodation and Food Services (72) in Arizona (AZACCFDNGSP), retrieved from FRED.