Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Arizona
AZFURNMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
512.10
Year-over-Year Change
96.06%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the furniture and related product manufacturing industry in the state of Arizona. It provides insights into the performance and economic contribution of this key manufacturing sector.
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 Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Arizona metric tracks the total value of goods and services produced by this industry within the state. It is an important indicator of the manufacturing sector's health and competitiveness.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is used by policymakers, economists, and industry analysts to assess the broader economic conditions and development in Arizona.
Key Facts
- Arizona's furniture manufacturing GDP was $1.2 billion in 2021.
- The industry accounts for 1.3% of the state's total economic output.
- Furniture manufacturing employment in Arizona has grown by 7% since 2018.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the furniture and related product manufacturing industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and economic contribution of a key manufacturing sector in Arizona, which is valuable for policymakers, economists, and industry analysts.
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: This trend is used by policymakers, economists, and industry analysts to assess the broader economic conditions and development in Arizona.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Bureau of Economic Analysis, with typical update delays of several months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Arizona (AZFURNMANNGSP), retrieved from FRED.