Chain-Type Quantity Index for Real GDP: Construction (23) in Arizona
AZCONSTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
152.01
Year-over-Year Change
109.40%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Construction (23) in Arizona measures the real output of the construction industry in the state. This metric is a key indicator of economic activity and investment in the region.
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 Chain-Type Quantity Index for Real GDP: Construction (23) in Arizona tracks the volume of production in the construction industry, one of the major sectors of the state's economy. This index is a vital statistic for assessing trends in economic growth, infrastructure investment, and the health of the local real estate market.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to account for changes in prices and quantities over time.
Historical Context
Policymakers and analysts monitor this index to gauge the strength of Arizona's construction industry and its broader economic implications.
Key Facts
- Arizona's construction industry accounts for over 5% of the state's GDP.
- The index has risen by 20% over the past 5 years, indicating robust growth.
- Construction is a leading indicator of broader economic conditions in the state.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Construction (23) in Arizona measures the real, inflation-adjusted output of the construction industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of economic activity, investment, and the health of the real estate market in Arizona. It provides important insights for policymakers, businesses, and investors.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to account for changes in prices and quantities over time.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this index to gauge the strength of Arizona's construction industry and its broader economic implications, informing decisions on infrastructure investment, zoning, and economic development.
Q: Are there update delays or limitations?
A: The data is published quarterly by the Federal Reserve with a typical 2-3 month delay, providing a timely but not real-time view of construction activity in the state.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Construction (23) in Arizona (AZCONSTQGSP), retrieved from FRED.