Real Gross Domestic Product: Warehousing and Storage (493) in Arizona
AZWARESTORRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,994.50
Year-over-Year Change
298.18%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Warehousing and Storage (493) in Arizona measures the inflation-adjusted economic output of the warehousing and storage industry in the state. This metric is closely watched by economists and policymakers as an indicator of logistics and supply chain activity.
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 series tracks the real GDP, or inflation-adjusted economic output, of the warehousing and storage industry in Arizona. It provides insight into the productivity and growth of this critical logistics sector, which supports broader economic activity in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures.
Historical Context
Trends in warehousing and storage GDP are used by analysts to assess the health of Arizona's logistics infrastructure and supply chain networks.
Key Facts
- Arizona's warehousing and storage GDP grew by 3.2% in 2021.
- The industry accounts for 2.1% of the state's total economic output.
- Warehousing and storage employment in Arizona has increased by 7% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the real, inflation-adjusted GDP of the warehousing and storage industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: Trends in warehousing and storage GDP provide insights into the productivity and growth of this critical logistics sector, which supports broader economic activity in Arizona.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to assess the health of Arizona's logistics infrastructure and supply chain networks.
Q: Are there update delays or limitations?
A: The data is released quarterly by the BEA, with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Warehousing and Storage (493) in Arizona (AZWARESTORRGSP), retrieved from FRED.