Chain-Type Quantity Index for Real GDP: Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523) in West Virginia
WVSECCOMINVQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
104.91
Year-over-Year Change
2.76%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the chain-type quantity index for real GDP in the securities, commodity contracts, and other financial investments and related activities (NAICS 523) industry in West Virginia. It provides insights into the performance and growth of this key financial services 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 chain-type quantity index for real GDP is a measure that adjusts for inflation and reflects the real output volume of an industry or region. This data series is useful for analyzing the economic activity and productivity trends within West Virginia's financial services industry.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted method to measure real GDP.
Historical Context
This economic indicator helps policymakers and analysts understand the dynamics of West Virginia's financial services sector and its contribution to the state's overall economic performance.
Key Facts
- The financial services industry accounts for a significant portion of West Virginia's GDP.
- This index helps track the productivity and growth of the state's financial sector.
- The data is adjusted for inflation to provide a real, volume-based measure of economic activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in the securities, commodity contracts, and other financial investments and related activities (NAICS 523) industry in West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the performance and growth of West Virginia's key financial services sector, which is important for understanding the state's overall economic activity and productivity.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted method to measure real GDP.
Q: How is this trend used in economic policy?
A: This economic indicator helps policymakers and analysts understand the dynamics of West Virginia's financial services sector and its contribution to the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and potential limitations as other regional GDP metrics published by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523) in West Virginia (WVSECCOMINVQGSP), retrieved from FRED.