Economy
Gross Domestic Product by State and Metropolitan Area
Description: Gross domestic product (GDP) is the value added in production by labor and capital. It is the most comprehensive measure of economic activity. GDP is released quarterly for the nation, but only annual data are available by state and metropolitan area. Estimates by state are released in June. Preliminary estimates for the preceding calendar year, as well as revised and more detailed estimates for the year before, are included. Metro area estimates are released in September for the year prior to the preceding year.
Gross domestic product data are provided on the Economic and Demographic Indicators dashboard since 1997 for Arizona and the nation and since 2001 for Arizona’s six metropolitan areas. Data prior to 1997 are available from the source for the state and nation, but a break in series in 1997 for the state data complicates the presentation of these data. The earliest data by metropolitan area are for 2001; county data are not available. GDP for the nation, states and metro areas are presented in both current dollars and inflation-adjusted dollars (though some of the historical data by state are available only in current dollars). The inflation adjustment is unique to each geographic area and is part of the GDP series.
Data Source: U. S. Department of Commerce, Bureau of Economic Analysis http://www.bea.gov/regional/index.htm.
Comments on the Quality of the Data: Some of the inputs to the calculation of GDP by state are estimated. The estimates of GDP by metro area are prototype statistics that first were released in September 2007 for evaluation and comment by data users. The methodology developed for these prototype estimates is relatively simple.
