Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Arizona
AZACCOMDQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
114.18
Year-over-Year Change
6.16%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Arizona measures the real output of the accommodation and food services sector in the state. This is a key indicator of economic activity and consumer spending patterns.
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 quantity of real GDP produced by the accommodation and food services industry in Arizona. It is a volume measure that is adjusted for inflation, allowing for analysis of sector-level growth trends independent of price changes.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level deflators.
Historical Context
Policymakers and analysts use this index to assess the health of Arizona's service economy and consumer demand.
Key Facts
- Arizona's accommodation and food services sector accounts for over 10% of the state's GDP.
- The index has grown by over 25% since 2010, outpacing overall state GDP growth.
- Food services make up the largest component of this index, at around 60% of the total.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output or quantity of GDP produced by Arizona's accommodation and food services sector, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This index provides insight into the performance and growth of a key service industry in Arizona's economy, which is important for understanding consumer spending and economic conditions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level price deflators to adjust the nominal GDP figures for the sector.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the health of Arizona's service economy and consumer demand, which informs decisions around fiscal, monetary, and economic development policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Arizona (AZACCOMDQQGSP), retrieved from FRED.