Real Gross Domestic Product: Transportation and Warehousing (48-49) in West Virginia
WVTRANSWARERQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,862.50
Year-over-Year Change
-8.19%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) of the transportation and warehousing sector in West Virginia. It provides insights into the performance and productivity 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: Transportation and Warehousing (48-49) in West Virginia series tracks the inflation-adjusted value-added output of businesses in the transportation and warehousing industry in the state. It serves as an important indicator of economic activity and productivity within this sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting procedures.
Historical Context
This trend is widely used by economists, policymakers, and industry analysts to assess the health and growth of West Virginia's transportation and logistics infrastructure.
Key Facts
- West Virginia's transportation and warehousing sector accounts for approximately 5% of the state's total GDP.
- This industry has seen steady growth over the past decade, reflecting investments in infrastructure and logistics.
- The COVID-19 pandemic temporarily disrupted the sector, but it has since rebounded to pre-pandemic levels.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the transportation and warehousing industry in the state of West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and productivity of a critical sector of West Virginia's economy, which can inform business planning, investment decisions, and economic policymaking.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting procedures.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the health and growth of West Virginia's transportation and logistics infrastructure, which is essential for supporting economic activity and competitiveness.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Transportation and Warehousing (48-49) in West Virginia (WVTRANSWARERQGSP), retrieved from FRED.