Chain-Type Quantity Index for Real GDP: Amusement, Gambling, and Recreation Industries (713) in Arizona
AZAMUSEQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
106.35
Year-over-Year Change
30.41%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Amusement, Gambling, and Recreation Industries (713) in Arizona measures the real output of this sector in the state. It is a key indicator for understanding economic activity and growth in Arizona's leisure and hospitality industry.
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 volume of real GDP, or inflation-adjusted economic output, generated by the amusement, gambling, and recreation industries in Arizona. It is a useful metric for analyzing trends in this important service sector and its contribution to the state's overall economic performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using survey information and economic modeling techniques.
Historical Context
This index provides insight into consumer spending patterns and business investment in Arizona's recreational and tourism-related activities, which are closely watched by policymakers and market analysts.
Key Facts
- Arizona's amusement, gambling, and recreation industries account for over 4% of the state's total GDP.
- The index has shown steady growth, averaging 3.2% annually over the past decade.
- Tourism is a major driver of this sector, with visitors contributing significantly to recreation-related spending.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output or production volume of the amusement, gambling, and recreation industries in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into an important service sector that is a significant contributor to Arizona's economy and can signal broader trends in consumer spending and tourism activity.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis using surveys and economic modeling techniques to estimate the real GDP produced by this industry in Arizona.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts closely monitor this index to gauge the health of Arizona's leisure and hospitality sector, which informs decisions around economic development, tourism promotion, and tax policy.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the Federal Reserve, but there may be a 2-3 month lag in the most recent data being available publicly.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Amusement, Gambling, and Recreation Industries (713) in Arizona (AZAMUSEQGSP), retrieved from FRED.