Real Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Arizona
AZNMMPMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,025.20
Year-over-Year Change
51.10%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real (inflation-adjusted) gross domestic product of the nonmetallic mineral product manufacturing industry in Arizona. It is an important indicator of the state's economic activity and productivity in 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 Real Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Arizona metric tracks the inflation-adjusted value of goods and services produced by this industry within the state. It provides insights into the performance and growth of this critical manufacturing segment of Arizona's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic trend is closely monitored by policymakers, analysts, and businesses to assess the health and competitiveness of Arizona's manufacturing sector.
Key Facts
- Arizona is a major producer of nonmetallic mineral products like cement, glass, and ceramics.
- This industry accounts for over 5% of the state's total manufacturing GDP.
- Real GDP in this sector has grown by 12% in Arizona over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the nonmetallic mineral product manufacturing industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and growth of a critical manufacturing segment of Arizona's economy, which is closely monitored by policymakers, analysts, and businesses.
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 economic trend is used by policymakers, analysts, and businesses to assess the health and competitiveness of Arizona's manufacturing sector and inform economic and industrial policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 2-3 month delay. There may be revisions to previously reported figures as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Arizona (AZNMMPMANRGSP), retrieved from FRED.