Real Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Virginia
VARENTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,385.90
Year-over-Year Change
73.05%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) for the rental and leasing services and lessors of nonfinancial intangible assets industry in Virginia. It provides insights into the performance and growth of this key sector of 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: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Virginia series tracks the inflation-adjusted economic output of businesses involved in renting, leasing, and licensing intangible assets in the state. This data is used by economists and policymakers to analyze the strength and dynamics of Virginia's service-based industries.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using proprietary economic modeling techniques.
Historical Context
This industry trend data informs analyses of Virginia's broader economic conditions and helps guide policy decisions related to the service sector.
Key Facts
- Virginia's rental and leasing services sector accounts for over 2% of the state's total GDP.
- This industry has seen steady growth over the past decade, outpacing the national average.
- The data is released quarterly by the U.S. Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the rental and leasing services and lessors of nonfinancial intangible assets industry in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the performance and growth of a key service-based sector of Virginia's economy, which is useful for economists and policymakers analyzing the state's overall economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using proprietary economic modeling techniques.
Q: How is this trend used in economic policy?
A: This industry trend data informs analyses of Virginia's broader economic conditions and helps guide policy decisions related to the service sector.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay from the end of the reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Virginia (VARENTRGSP), retrieved from FRED.