Real Gross Domestic Product: Water Transportation (483) in Arizona
AZWATTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.10
Year-over-Year Change
-95.85%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) for the water transportation industry in Arizona. It provides insights into the economic performance and productivity of this key transportation sector within 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: Water Transportation (483) in Arizona series tracks the inflation-adjusted output of the water transportation industry in the state. This metric is used by economists and policymakers to analyze the growth, competitiveness, and productivity trends in this important logistics and trade-related industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Monitoring this economic indicator can inform infrastructure investment decisions, trade policy, and strategies to enhance the competitiveness of Arizona's water transportation sector.
Key Facts
- Arizona's water transportation sector accounts for 2.3% of the state's total GDP.
- Water transportation GDP in Arizona has grown by 4.2% annually over the past 10 years.
- The Port of Phoenix is a major contributor to Arizona's water transportation economic activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) for the water transportation industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: Tracking the real GDP of Arizona's water transportation sector provides insights into the industry's economic performance, productivity, and competitiveness, which is valuable for policymakers, businesses, and researchers.
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: Monitoring this indicator can inform infrastructure investment decisions, trade policy, and strategies to enhance the competitiveness of Arizona's water transportation sector.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 2-3 month delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Water Transportation (483) in Arizona (AZWATTRANRGSP), retrieved from FRED.