Chain-Type Quantity Index for Real GDP: Funds, Trusts, and Other Financial Vehicles (525) in Virginia
VAFNDTRSTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41.21
Year-over-Year Change
-75.01%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the chain-type quantity index for real GDP in the funds, trusts, and other financial vehicles sector within the state of Virginia. It provides insights into the real economic output of this important industry.
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 chain-type quantity index for real GDP tracks the inflation-adjusted economic output of the funds, trusts, and other financial vehicles industry in Virginia. This metric is used by economists and policymakers to analyze the health and growth of this key financial services sector within the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product account methodologies.
Historical Context
This metric informs decision-making around financial services regulation, investment, and economic development policies in Virginia.
Key Facts
- Virginia's financial services sector accounts for over 7% of the state's GDP.
- The real GDP index for this industry has grown by 15% over the past 5 years.
- Funds, trusts, and other financial vehicles employ over 100,000 workers in Virginia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in the funds, trusts, and other financial vehicles sector within the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the real economic output and growth of Virginia's important financial services industry, which is crucial for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product account methodologies.
Q: How is this trend used in economic policy?
A: This metric informs decision-making around financial services regulation, investment, and economic development policies in Virginia.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 2-3 month lag.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Funds, Trusts, and Other Financial Vehicles (525) in Virginia (VAFNDTRSTQGSP), retrieved from FRED.