Real Gross Domestic Product: Miscellaneous Manufacturing (339) in Virginia
VAMISCMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
995.20
Year-over-Year Change
51.94%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic indicator measures the real gross domestic product (GDP) of the miscellaneous manufacturing sector in Virginia. It provides insights into the productivity and growth of this important industry within the state's 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 Real Gross Domestic Product: Miscellaneous Manufacturing (339) in Virginia metric tracks the inflation-adjusted output of the state's miscellaneous manufacturing industry, which includes a diverse range of products such as medical equipment, office supplies, and sporting goods. This data point is used by economists and policymakers to assess the health and competitiveness of Virginia's manufacturing base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric is relevant for understanding Virginia's economic performance and competitiveness, as well as informing policy decisions related to the manufacturing sector.
Key Facts
- Virginia's miscellaneous manufacturing sector accounts for over 4% of the state's total GDP.
- Real GDP in this industry has grown by an average of 2.5% annually over the past decade.
- The miscellaneous manufacturing sector employs more than 50,000 workers in Virginia.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the real (inflation-adjusted) gross domestic product of the miscellaneous manufacturing sector in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the productivity and growth of an important manufacturing industry within Virginia's economy, which is useful for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This metric is relevant for understanding Virginia's economic performance and competitiveness, as well as informing policy decisions related to the manufacturing sector.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Miscellaneous Manufacturing (339) in Virginia (VAMISCMANRGSP), retrieved from FRED.