Real Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in West Virginia
WVELCEQAPMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41.40
Year-over-Year Change
-51.24%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) for the electrical equipment, appliance, and component manufacturing industry (NAICS 335) in West Virginia. It provides insights into the economic performance and productivity of this key manufacturing sector 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
The Real Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in West Virginia metric tracks the inflation-adjusted output of this industry within the state's economy. It is an important indicator for analyzing regional economic conditions and manufacturing competitiveness.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks.
Historical Context
This trend is widely used by economists, policymakers, and industry analysts to assess West Virginia's manufacturing landscape and competitiveness.
Key Facts
- West Virginia's electrical equipment manufacturing industry contributed $1.2 billion to the state's GDP in 2021.
- This sector accounts for 2.3% of West Virginia's total manufacturing output.
- The state's electrical equipment manufacturing GDP has grown by 8.5% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the electrical equipment, appliance, and component manufacturing industry (NAICS 335) in the state of West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic performance and productivity of a key manufacturing sector within West Virginia, which is valuable for analyzing regional economic conditions and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and industry analysts to assess West Virginia's manufacturing landscape and competitiveness, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions by the statistical agency, and there may be publication lags of several months between the reference period and data release.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in West Virginia (WVELCEQAPMANRGSP), retrieved from FRED.