Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Virginia
VAMACHMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
111.19
Year-over-Year Change
-35.49%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Virginia measures the real output of the machinery manufacturing industry in the state. This metric is important for understanding the health and productivity of a key sector of 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
The Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Virginia tracks the real, inflation-adjusted output of the machinery manufacturing industry in the state. This metric is used by economists and policymakers to assess the performance and productivity of this critical industrial sector.
Methodology
This index is calculated using survey data and production metrics collected by the U.S. Census Bureau.
Historical Context
The machinery manufacturing industry is an important driver of economic activity and a key indicator of industrial strength in Virginia.
Key Facts
- Virginia is a leading manufacturing state in the U.S.
- Machinery manufacturing accounts for over 10% of the state's GDP.
- This index has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Virginia measures the real, inflation-adjusted output of the machinery manufacturing industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the performance and productivity of a key industrial sector in the Virginia economy.
Q: How is this data collected or calculated?
A: The index is calculated using survey data and production metrics collected by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this index to assess the health and growth of the machinery manufacturing industry, which is a critical driver of economic activity in Virginia.
Q: Are there update delays or limitations?
A: There may be some time lags in the data due to the collection and reporting process, but the index is a reliable and widely-used measure of machinery manufacturing output in Virginia.
Related Trends
Personal Consumption Expenditures: Goods: Durable Goods for Virginia
VAPCEDURG
Real Gross Domestic Product: All Industry Total in Virginia
VARGSP
All Employees: Private Service Providing in Virginia
SMU51000000800000001
Home Vacancy Rate for Virginia
VAHVAC
Business Applications with Planned Wages: Total for All NAICS in Virginia
BAWBATOTALSAVA
Average Weekly Hours of All Employees: Other Services in Virginia
SMU51000008000000002
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Virginia (VAMACHMANQGSP), retrieved from FRED.