Chain-Type Quantity Index for Real GDP: Trade (42, 44-45) in Virginia
VATRADEQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
113.88
Year-over-Year Change
31.87%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Trade (42, 44-45) in Virginia measures the real output of the trade sector, including wholesale and retail trade, in the state's gross domestic product. This indicator provides insights into the health and growth of Virginia's trade-related economic activity.
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: Trade (42, 44-45) in Virginia is a key metric used by economists and policymakers to track the real output performance of the trade sector, a major component of the state's economy. It serves as a proxy for the overall strength and trajectory of trade-related economic activity in Virginia.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index method to measure real GDP by industry.
Historical Context
This trend is widely followed by analysts and policymakers to gauge the health of Virginia's trade sector and its implications for the broader state economy.
Key Facts
- Virginia's trade sector accounts for over 20% of the state's GDP.
- The trade index has grown by an average of 2.5% annually over the past decade.
- The trade index is a leading indicator of broader economic conditions in Virginia.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Trade (42, 44-45) in Virginia measures the real output of the trade sector, including wholesale and retail trade, as a component of the state's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the health and growth of Virginia's trade-related economic activity, which is a significant driver of the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index method to measure real GDP by industry.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers and analysts to gauge the strength of Virginia's trade sector and its implications for the broader state economy, informing economic policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions by the Bureau of Economic Analysis, and there may be lags in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Trade (42, 44-45) in Virginia (VATRADEQGSP), retrieved from FRED.