Real Gross Domestic Product: Transportation and Utilities (22, 48-49) in Arizona
AZTRANSUTILRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20,170.40
Year-over-Year Change
26.90%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic indicator measures the real (inflation-adjusted) gross domestic product (GDP) of the transportation and utilities sectors in the state of Arizona. It provides insights into the performance and growth of these key industries within the state'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 Gross Domestic Product: Transportation and Utilities (22, 48-49) in Arizona metric tracks the inflation-adjusted economic output of industries such as air transportation, rail transportation, and electric power generation. It is an important gauge of Arizona's economic health and can inform policy decisions related to infrastructure investment and industry regulation.
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
This economic trend is closely monitored by policymakers, industry analysts, and investors to assess Arizona's competitive position and the broader health of the state's economy.
Key Facts
- Arizona's transportation and utilities sector accounts for over 8% of the state's total GDP.
- Real GDP in this sector grew by 3.2% in 2021, outpacing the overall state economy.
- The COVID-19 pandemic led to a 5.1% decline in 2020 before the sector rebounded in 2021.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real, inflation-adjusted gross domestic product (GDP) of the transportation and utilities sectors in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and growth of key industries that are critical to Arizona's economy, informing policy decisions and economic analysis.
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, industry analysts, and investors closely monitor this trend to assess Arizona's economic competitiveness and the broader health of the state's economy, informing decisions on infrastructure investment and industry regulation.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to periodic revisions as more complete information becomes available.
Related Trends
Pandemic Emergency Unemployment Compensation Continued Claims in Arizona
PEUCCCAZ
Gross Domestic Product: Computer Systems Design and Related Services (5415) in Arizona
AZCPUSYSDSGNNGSP
Housing Inventory: Median Days on Market Year-Over-Year in Arizona
MEDDAYONMARYYAZ
Real Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Arizona
AZNMMPMANRGSP
Initial Claims in Arizona
AZICLAIMS
Chain-Type Quantity Index for Real GDP: Data Processing, Hosting, and Other Information Services (518-519) in Arizona
AZDATAWWWQGSP
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Transportation and Utilities (22, 48-49) in Arizona (AZTRANSUTILRGSP), retrieved from FRED.