Real Gross Domestic Product: All Industry Total in Arizona
AZRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
438,272.50
Year-over-Year Change
7.96%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product (GDP) for All Industry Total in Arizona measures the total economic output of the state, adjusted for inflation. This key metric is closely watched by economists and policymakers to assess the overall health and growth of Arizona's economy.
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 GDP: All Industry Total in Arizona represents the total value of all goods and services produced within the state, with the effects of price changes removed. It is a comprehensive measure of economic activity and is widely used to evaluate the economic performance and trends in Arizona.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using surveys and other economic indicators.
Historical Context
This metric is vital for informing economic and fiscal policy decisions at the state and federal levels.
Key Facts
- Arizona's Real GDP grew by 3.2% in 2021.
- The Real GDP: All Industry Total in Arizona reached a record high of $369.7 billion in 2021.
- The service sector accounts for the largest share of Arizona's Real GDP.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product (GDP): All Industry Total in Arizona measures the total value of all goods and services produced within the state, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of Arizona's overall economic health and growth, and is closely watched by economists, policymakers, and businesses to inform decisions and policies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using surveys and other economic indicators.
Q: How is this trend used in economic policy?
A: The Real GDP: All Industry Total in Arizona is vital for informing economic and fiscal policy decisions at the state and federal levels, as it provides a comprehensive measure of the state's economic performance and trends.
Q: Are there update delays or limitations?
A: The data is typically published by the BEA with a delay of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: All Industry Total in Arizona (AZRQGSP), retrieved from FRED.