Gross Domestic Product: Private Goods-Producing Industries in Arizona
AZPRIGOODPRONGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
91,720.80
Year-over-Year Change
120.23%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic indicator measures the real output of private goods-producing industries in the state of Arizona. It is a key metric for assessing the health and productivity of Arizona's manufacturing, construction, mining, and utility sectors.
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: Private Goods-Producing Industries in Arizona is a regional economic statistic that tracks the inflation-adjusted value added by Arizona's private sector industries involved in producing physical goods. This metric provides insight into the overall performance and competitiveness of the state's core production-based economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
Policymakers and analysts use this metric to gauge the business cycle, investment climate, and productivity trends in Arizona's private goods-producing economy.
Key Facts
- Arizona's private goods-producing industries account for over one-quarter of the state's total economic output.
- This metric has shown steady growth over the past decade, outpacing the national average.
- Construction and manufacturing are the largest components of Arizona's private goods-producing economy.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Private Goods-Producing Industries in Arizona measures the real output and value added by the state's private-sector industries involved in manufacturing, construction, mining, and utilities.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the health, productivity, and competitiveness of Arizona's core production-based economy, which is a key driver of the state's overall economic performance.
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 income and product accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge business cycle trends, investment climate, and productivity in Arizona's private goods-producing economy, which informs decisions on economic development, taxation, and regulatory policies.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of several months, so there may be delays in reflecting the most current economic conditions in Arizona.
Related Trends
All Employees: Administrative and Support and Waste Management and Remediation Services in Arizona
SMU04000006056000001A
Per Capita Personal Consumption Expenditures: Goods: Durable Goods for Arizona
AZPCEPCDURG
State Government Tax Collections, Alcoholic Beverages - Selective Sales Taxes in Arizona
AZALCOTAX
Other Labor Income in Arizona
AZOOTH
Business Applications from Corporations for Arizona
CBUSAPPWNSAAZ
Real Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Arizona
AZOTRANEQMANRGSP
Citation
U.S. Federal Reserve, Gross Domestic Product: Private Goods-Producing Industries in Arizona (AZPRIGOODPRONGSP), retrieved from FRED.