Gross Domestic Product: Educational Services (61) in Arizona
AZEDCATNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,882.80
Year-over-Year Change
19.29%
Date Range
1/1/2005 - 1/1/2025
Summary
The 'Gross Domestic Product: Educational Services (61) in Arizona' series measures the economic output of the educational services industry in the state of Arizona. This metric is important for understanding the role of the education sector in the state's economy.
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 series represents the total inflation-adjusted value added by the educational services industry (NAICS code 61) to Arizona's gross domestic product. It provides insight into the size and growth of this key economic sector within the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
Policymakers and analysts use this metric to evaluate the economic contribution of Arizona's education industry and how it compares to other states or national trends.
Key Facts
- Arizona's educational services GDP was $12.9 billion in 2021.
- The sector accounts for approximately 3.2% of the state's total economic output.
- Educational services GDP in Arizona grew by 2.8% in 2021 compared to the prior year.
FAQs
Q: What does this economic trend measure?
A: This series measures the total value added by the educational services industry to Arizona's gross domestic product, providing insight into the size and growth of this key economic sector.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the role of the education sector in Arizona's economy and how it compares to national or regional trends.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate the economic contribution of Arizona's education industry and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may be subject to revisions by the statistical agency over time.
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Citation
U.S. Bureau of Economic Analysis, Gross Domestic Product: Educational Services (61) in Arizona (AZEDCATNQGSP), retrieved from FRED.