Real Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Arizona
AZTEXTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
120.50
Year-over-Year Change
51.57%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the textile mills and textile product mills industry in Arizona. It is a key indicator of the performance and growth of this crucial manufacturing sector in the state.
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: Textile Mills and Textile Product Mills (313-314) in Arizona metric tracks the inflation-adjusted output of this industry, providing insight into its productivity and economic contribution. It is used by policymakers, analysts, and businesses to assess the health and competitiveness of Arizona's textile manufacturing.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for understanding Arizona's manufacturing and trade dynamics, as well as the broader economic conditions in the state.
Key Facts
- Arizona is a major textile manufacturing hub.
- Textile mills and product mills account for over 10% of the state's manufacturing GDP.
- The industry has seen steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the textile mills and textile product mills 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 in Arizona, which is crucial for understanding the state's economic conditions and growth.
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: Policymakers, analysts, and businesses use this trend to assess the health and growth of Arizona's textile manufacturing industry, which informs decisions around trade, investment, and economic development.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical delay of 2-3 months, and may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Arizona (AZTEXTRGSP), retrieved from FRED.