Chain-Type Quantity Index for Real GDP: Transit and Ground Passenger Transportation (485) in Virginia
VATRANGRNDTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
89.62
Year-over-Year Change
-6.52%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Transit and Ground Passenger Transportation (485) in Virginia measures the inflation-adjusted output of the transit and ground passenger transportation industry in the state.
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
This index provides a gauge of the real economic activity in Virginia's transportation sector, which is a key component of the state's overall economic performance. It allows analysts to track trends and assess the industry's contribution to the broader state GDP.
Methodology
The data is calculated based on Bureau of Economic Analysis (BEA) methodology for chain-type quantity indexes.
Historical Context
Policymakers and economists use this index to understand the transportation industry's role in Virginia's economic conditions and growth.
Key Facts
- The index is measured with 2012 as the base year.
- Transportation is a major industry in Virginia, accounting for over 4% of state GDP.
- The index helps track the performance of a critical infrastructure sector.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted output of the transit and ground passenger transportation industry in Virginia.
Q: Why is this trend relevant for users or analysts?
A: The transportation sector is a key component of Virginia's economy, and this index allows analysts to track its performance and contribution to overall state GDP.
Q: How is this data collected or calculated?
A: The data is calculated based on the Bureau of Economic Analysis (BEA) methodology for chain-type quantity indexes.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to understand the role of the transportation industry in Virginia's economic conditions and growth.
Q: Are there update delays or limitations?
A: The index is updated regularly by the Federal Reserve, but there may be some publication delays due to the underlying data sources.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Transit and Ground Passenger Transportation (485) in Virginia (VATRANGRNDTRANQGSP), retrieved from FRED.