Gross Domestic Product: Information (51) in Arizona
Annual, Not Seasonally Adjusted
AZINFONGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17,328.90
Year-over-Year Change
135.82%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' trend measures the annual gross state product (GSP) for Arizona, a key indicator of the state's economic performance.
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 data series provides the total value of all goods and services produced within the state of Arizona over a one-year period, without adjusting for seasonal variations. It is a comprehensive measure of economic activity and a useful benchmark for policymakers and analysts to track Arizona's economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA).
Historical Context
Trends in Arizona's GSP are closely monitored by economists, investors, and government officials to inform economic and fiscal policy decisions.
Key Facts
- Arizona's GSP totaled $369 billion in 2021.
- The state's economy grew by 4.8% in 2021 compared to the previous year.
- The largest contributors to Arizona's GSP are trade, transportation, and utilities, as well as professional and business services.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total annual gross state product (GSP) for the state of Arizona, which represents the overall value of economic activity within the state.
Q: Why is this trend relevant for users or analysts?
A: Arizona's GSP is a key indicator of the state's economic performance and growth, providing valuable insights for policymakers, businesses, and investors to make informed decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA).
Q: How is this trend used in economic policy?
A: Trends in Arizona's GSP are closely monitored by economists, government officials, and other stakeholders to inform economic and fiscal policy decisions at the state level.
Q: Are there update delays or limitations?
A: The data is typically released on an annual basis, with a delay of several months. There may be revisions to prior-year estimates as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (AZINFONGSP), retrieved from FRED.