Chain-Type Quantity Index for Real GDP: Educational Services (61) in Arizona
AZEDCATQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
115.26
Year-over-Year Change
9.80%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Educational Services (61) in Arizona measures the real, inflation-adjusted output of the educational services sector in the state. This metric is important for economists and policymakers to understand productivity trends and economic growth in the education 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 quantity of goods and services produced by the educational services sector in Arizona, adjusted for changes in prices over time. It provides a measure of real economic activity that is useful for analyzing the performance and contribution of the education industry to the state's overall economic output.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach to account for price changes.
Historical Context
This index is used by analysts to assess the health and growth of Arizona's education sector and its impact on the broader state economy.
Key Facts
- Arizona's educational services sector accounts for around 3% of the state's total GDP.
- The index has grown by an average of 2.5% annually over the past decade.
- The COVID-19 pandemic caused a 5.2% decline in the index in 2020.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the educational services sector in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding productivity and growth trends in Arizona's education industry, which is a key contributor to the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach to account for price changes over time.
Q: How is this trend used in economic policy?
A: This index is used by analysts, economists, and policymakers to assess the health and growth of Arizona's education sector and its impact on the broader state economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Educational Services (61) in Arizona (AZEDCATQGSP), retrieved from FRED.