Real Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in West Virginia
WVFRBCIRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,043.00
Year-over-Year Change
-33.74%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the monetary authorities, credit intermediation, and related services sector in West Virginia. It provides insights into the performance and growth of this critical industry within 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: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in West Virginia is a key indicator used by economists and policymakers to assess the economic output and productivity of the financial services sector in the state. It offers valuable data for analyzing industry trends and guiding policy decisions.
Methodology
The data is collected and calculated by the U.S. Federal Reserve using established national income and product accounting methods.
Historical Context
This trend is closely monitored by financial institutions, investors, and government agencies to understand the health and development of West Virginia's financial services industry.
Key Facts
- West Virginia's financial services sector accounts for approximately 5% of the state's GDP.
- The trend has shown steady growth over the past decade, reflecting the industry's importance to the state's economy.
- Credit intermediation and related services are the largest components of this economic indicator.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the monetary authorities, credit intermediation, and related services sector in the state of West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and growth of West Virginia's financial services industry, which is a critical component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by financial institutions, investors, and government agencies to understand the health and development of West Virginia's financial services industry, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is published regularly by the Federal Reserve, with a typical update delay of several months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in West Virginia (WVFRBCIRGSP), retrieved from FRED.