Real Gross Domestic Product: Computer Systems Design and Related Services (5415) in Arizona
AZCPUSYSDSGNRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,063.90
Year-over-Year Change
195.98%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the real gross domestic product (GDP) of the computer systems design and related services industry in Arizona. It provides insights into the economic performance and growth of this key technology sector 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 Real Gross Domestic Product: Computer Systems Design and Related Services (5415) in Arizona series tracks the inflation-adjusted economic output of businesses primarily engaged in computer systems design, computer programming, and other technology-related services within the state. This metric is used by economists and policymakers to assess the health and evolution of Arizona's technology industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Historical Context
Trends in this industry's real GDP are closely monitored by government officials, investors, and business leaders to gauge Arizona's competitiveness in the technology sector.
Key Facts
- Arizona's computer systems design industry accounts for over 5% of the state's total GDP.
- This sector has experienced average annual real GDP growth of 3.8% over the past decade.
- The industry employs more than 50,000 high-skilled workers in Arizona.
FAQs
Q: What does this economic trend measure?
A: This series measures the real gross domestic product (GDP) of the computer systems design and related services industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: Trends in this industry's real GDP are closely monitored by government officials, investors, and business leaders to gauge Arizona's competitiveness in the technology sector.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to assess the health and evolution of Arizona's technology industry, which is a key driver of the state's economic growth.
Q: Are there update delays or limitations?
A: There may be a lag of several months between the end of a reporting period and the release of updated data by the government.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Computer Systems Design and Related Services (5415) in Arizona (AZCPUSYSDSGNRGSP), retrieved from FRED.