Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Virginia
VAPLASRUBMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,464.10
Year-over-Year Change
-25.30%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) for the plastics and rubber products manufacturing industry in Virginia. It is a key indicator of economic activity and production in this important manufacturing sector.
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: Plastics and Rubber Products Manufacturing (326) in Virginia series tracks the inflation-adjusted total economic output of this industry within the state. It is used by economists and policymakers to assess the health and competitiveness of Virginia's plastics and rubber manufacturing sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP estimates.
Historical Context
This metric helps inform state-level economic and industrial policies aimed at supporting the plastics and rubber manufacturing industry.
Key Facts
- Virginia is a major hub for plastics and rubber manufacturing.
- This industry accounts for over 20,000 jobs in the state.
- The sector has seen steady growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the real, inflation-adjusted gross domestic product (GDP) for the plastics and rubber products manufacturing industry in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into the performance and economic contribution of this key manufacturing sector, which is important for state-level economic policy and business investment decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and state agencies use this metric to inform policies and programs supporting the plastics and rubber manufacturing industry in Virginia.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Virginia (VAPLASRUBMANRGSP), retrieved from FRED.