Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in West Virginia
WVAGRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
152.59
Year-over-Year Change
145.92%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in West Virginia measures the real output of the agriculture, forestry, fishing, and hunting sector in the state. This indicator provides insight into the productivity and economic contribution of these key industries.
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 tracks the real, inflation-adjusted quantity of goods and services produced by the agriculture, forestry, fishing, and hunting sector in West Virginia. It is a valuable metric for understanding the state's economic structure and performance in these natural resource-based industries.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
This trend is useful for policymakers, economists, and businesses to assess the health and trajectory of West Virginia's natural resource-dependent industries.
Key Facts
- The index has a base year of 2012.
- West Virginia's agriculture, forestry, fishing, and hunting sector accounts for about 3% of the state's GDP.
- The index has seen modest growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted output of the agriculture, forestry, fishing, and hunting sector in the state of West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the productivity and economic contribution of these key natural resource-based industries in West Virginia, which is useful for policymakers, economists, and businesses.
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 quantity index formula.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and businesses to assess the health and trajectory of West Virginia's agriculture, forestry, fishing, and hunting industries.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Bureau of Economic Analysis, with typical update delays of several months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in West Virginia (WVAGRQGSP), retrieved from FRED.