Gross Domestic Product: Finance and Insurance (52) in Arizona
AZFININSNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38,091.60
Year-over-Year Change
9.69%
Date Range
1/1/2005 - 1/1/2025
Summary
The 'Gross Domestic Product: Finance and Insurance (52) in Arizona' series measures the economic output of the finance and insurance sector in the state of Arizona. This metric is important for economists and policymakers to understand the performance and contribution of this key industry within the state's overall 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 inflation-adjusted gross domestic product (GDP) originating from the finance and insurance industry in Arizona. It provides insights into the relative size and growth of this sector compared to the state's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
This metric is used by analysts, policymakers, and businesses to assess the economic conditions and trends within Arizona's finance and insurance sector.
Key Facts
- The finance and insurance sector accounts for approximately 8% of Arizona's total GDP.
- This industry has experienced steady growth in recent years, outpacing the state's overall economic expansion.
- Arizona's finance and insurance sector is a significant contributor to the state's tax revenue and employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) originating from the finance and insurance industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and contribution of the finance and insurance sector within Arizona's overall economy, which is crucial for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, analysts, and businesses to assess the economic conditions and trends within Arizona's finance and insurance sector, which informs decision-making and policy development.
Q: Are there update delays or limitations?
A: The data is released on a regular basis by the U.S. Bureau of Economic Analysis, but may be subject to revision and updates over time.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Finance and Insurance (52) in Arizona (AZFININSNQGSP), retrieved from FRED.