Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Arizona
AZFININSQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
107.06
Year-over-Year Change
7.11%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Arizona measures the real output of the finance and insurance sector in the state. It is a key indicator of economic activity and productivity in this important 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 real, inflation-adjusted value added by the finance and insurance sector in Arizona's economy. It is used by economists and policymakers to analyze trends in this major component of the state's GDP and assess the sector's contribution to overall economic growth.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
Trends in this index are closely monitored by state and federal officials to inform economic and financial policy decisions.
Key Facts
- The finance and insurance sector accounts for over 7% of Arizona's GDP.
- This index uses 2012 as the base year for real GDP calculations.
- The index reached a record high of 125.58 in 2019 before declining in 2020.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the finance and insurance sector in Arizona's economy.
Q: Why is this trend relevant for users or analysts?
A: Trends in this index provide insight into the productivity and economic importance of Arizona's finance and insurance industry, a key driver of the state's GDP.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this index to assess the health of Arizona's finance and insurance sector and make informed decisions about economic and financial policies.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and the index may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Arizona (AZFININSQGSP), retrieved from FRED.