Real Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Arizona
AZFABRMETRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,104.60
Year-over-Year Change
55.38%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the fabricated metal product manufacturing industry in Arizona. It is an important indicator of the state's manufacturing sector performance and economic growth.
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 GDP of the fabricated metal product manufacturing industry in Arizona represents the inflation-adjusted value of goods and services produced by this sector. It is a key metric for analyzing the strength and productivity of Arizona's manufacturing base and its contribution to the state's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and analysts use this trend to assess the health and competitiveness of Arizona's manufacturing industry and to inform economic development strategies.
Key Facts
- Arizona's fabricated metal manufacturing sector accounts for over 10% of the state's total GDP.
- Real GDP in this industry has grown by 15% in the past 5 years.
- Fabricated metal manufacturing is one of Arizona's largest export industries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the fabricated metal product manufacturing industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of the performance and productivity of Arizona's manufacturing sector, which is an important driver of the state's overall economic growth and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the health and competitiveness of Arizona's manufacturing industry and to inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 quarter delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Arizona (AZFABRMETRGSP), retrieved from FRED.