Real Gross Domestic Product: Federal Civilian in Virginia
VAGOVFEDCIVRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34,133.30
Year-over-Year Change
17.13%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: Federal Civilian in Virginia' trend measures the inflation-adjusted contribution of the federal civilian sector to the state's overall economic output. This data is crucial for analyzing the economic impact of the federal government's activities in Virginia.
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 represents the portion of Virginia's real gross domestic product (GDP) that is attributed to the federal civilian sector. It provides insight into the role of federal employment and spending in the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using various economic indicators and statistical models.
Historical Context
Policymakers and economists use this trend to assess the influence of the federal government on Virginia's economic performance and development.
Key Facts
- The federal civilian sector accounts for approximately 15% of Virginia's GDP.
- Real federal civilian GDP in Virginia has grown by 2.5% annually over the past decade.
- Virginia has the third-largest federal civilian workforce in the United States.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted contribution of the federal civilian sector to Virginia's overall economic output or gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for understanding the economic impact of the federal government's activities in Virginia, which is an important consideration for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using various economic indicators and statistical models.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the influence of the federal government on Virginia's economic performance and development.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately three months.
Related Trends
Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Virginia
VADATAWWWNGSP
Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Virginia
VAMACHMANQGSP
Monthly State Retail Sales: Electronics and Appliance Stores in Virginia
MSRSVA443
All Employees: Construction in Virginia
VACONS
Real Gross Domestic Product: Insurance Carriers and Related Activities (524) in Virginia
VAINSCRARGSP
Housing Inventory: Price Increased Count Month-Over-Month in Virginia
PRIINCCOUMMVA
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Federal Civilian in Virginia (VAGOVFEDCIVRGSP), retrieved from FRED.