Real Value-Added Output for Private Nonfarm in Virginia
IPUZNT010510000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
124.66
Year-over-Year Change
34.57%
Date Range
1/1/2007 - 1/1/2024
Summary
The Real Value-Added Output for Private Nonfarm in Virginia measures the economic output of private businesses, excluding agriculture, in the state. This metric is a key indicator of Virginia's economic health and productivity.
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 series tracks the real (inflation-adjusted) value added by private, non-farm establishments in Virginia. It reflects the contribution of these businesses to the state's overall economic output and serves as an important gauge of the private sector's performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys of businesses.
Historical Context
Policymakers and analysts use this metric to assess the vitality of Virginia's private economy and its implications for employment, consumer spending, and other economic indicators.
Key Facts
- Virginia's private nonfarm real output accounts for over 80% of the state's total economic output.
- The series has shown steady growth over the past decade, reflecting the strength of Virginia's private sector.
- Declines in this metric can signal broader economic slowdowns or regional recessions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) value added by private, non-farm businesses in the state of Virginia, reflecting their contribution to the state's overall economic output.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of the health and productivity of Virginia's private sector, which is a major driver of the state's economy. It provides important insights for policymakers, investors, and analysts assessing the economic conditions in the region.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys of businesses operating in Virginia.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the vitality of Virginia's private economy and its implications for employment, consumer spending, and other economic indicators, which can inform policy decisions and economic forecasting.
Q: Are there update delays or limitations?
A: There may be a lag of several months in the availability of the most recent data, as the Bureau of Economic Analysis compiles and releases the information. Additionally, the data may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Value-Added Output for Private Nonfarm in Virginia (IPUZNT010510000), retrieved from FRED.