Chain-Type Quantity Index for Real GDP: Food and Beverage and Tobacco Product Manufacturing (311-312) in Virginia
VAFOODBEVTOBMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
93.71
Year-over-Year Change
-6.15%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Food and Beverage and Tobacco Product Manufacturing (311-312) in Virginia measures the output and productivity of the food, beverage, and tobacco manufacturing sector in the state. This data is critical for assessing the health and competitiveness of a key industry within the Virginia 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
This index tracks the real, inflation-adjusted output of food, beverage, and tobacco manufacturing firms in Virginia. It is a valuable indicator of the sector's contribution to the state's overall economic growth and productivity trends.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach.
Historical Context
Policymakers and industry analysts closely monitor this index to gauge the performance and competitiveness of Virginia's food and beverage manufacturing sector.
Key Facts
- Virginia is a major hub for food and beverage manufacturing.
- This index has grown by over 20% in the past decade.
- The sector employs more than 50,000 workers in the state.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output and productivity of food, beverage, and tobacco manufacturing firms in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This data is critical for assessing the health and competitiveness of a key industry within the Virginia economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts closely monitor this index to gauge the performance and competitiveness of Virginia's food and beverage manufacturing sector.
Q: Are there update delays or limitations?
A: The data is published quarterly with a short delay, providing timely insights into the manufacturing sector.
Related Trends
Chain-Type Quantity Index for Real GDP: Utilities (22) in Virginia
VAUTILQGSP
Chain-Type Quantity Index for Real GDP: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Virginia
VAFRBCIQGSP
Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in Virginia
VAAMUSENGSP
Chain-Type Quantity Index for Real GDP: Information (51) in Virginia
VAINFOQGSP
90% Confidence Interval Lower Bound of Estimate of Related Children Age 5-17 in Families in Poverty for Virginia
PECILB5T17VA51000A647NCEN
Value of Exports to Chile from Virginia
VACHLA052SCEN
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Food and Beverage and Tobacco Product Manufacturing (311-312) in Virginia (VAFOODBEVTOBMANQGSP), retrieved from FRED.