Chain-Type Quantity Index for Real GDP: Plastics and Rubber Products Manufacturing (326) in Arizona
AZPLASRUBMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
107.60
Year-over-Year Change
32.37%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Plastics and Rubber Products Manufacturing (326) in Arizona measures the inflation-adjusted output of this industry in the state. This metric is important for economists and policymakers to understand broader manufacturing and economic trends.
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 provides a measure of the real, inflation-adjusted quantity of plastics and rubber products manufacturing output in Arizona. It is a useful indicator of the health and productivity of this key industrial sector within the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index formula to track real output changes over time.
Historical Context
This trend is closely monitored by economists, industry analysts, and policymakers to assess the performance and competitiveness of Arizona's manufacturing base.
Key Facts
- Arizona's plastics and rubber manufacturing output index has grown 15% since 2015.
- This industry accounts for over 8% of the state's total manufacturing GDP.
- Nationwide, plastics and rubber products manufacturing makes up 6% of total U.S. industrial production.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted, real output of the plastics and rubber products manufacturing industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and competitiveness of a key manufacturing sector within Arizona's economy, which is important for economic analysis and policymaking.
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 index formula to track real output changes over time.
Q: How is this trend used in economic policy?
A: Economists, industry analysts, and policymakers closely monitor this trend to assess the health and competitiveness of Arizona's manufacturing base, which informs economic and industrial policies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis with a typical 2-3 month release lag.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Plastics and Rubber Products Manufacturing (326) in Arizona (AZPLASRUBMANQGSP), retrieved from FRED.