Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in Virginia
VAADMINWASTQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
120.59
Year-over-Year Change
7.27%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in Virginia measures the real output of this sector in the state. It is a key indicator of economic activity and productivity in a critical service industry.
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 index tracks the real, inflation-adjusted quantity of goods and services produced by the administrative, support, waste management, and remediation services sector in Virginia. It is used by economists and policymakers to assess the health and growth of this important component of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index formula to measure real output.
Historical Context
Trends in this index provide insight into the performance and competitive position of Virginia's business services industry.
Key Facts
- The index has a base year of 2012.
- Virginia's administrative/waste services sector accounts for over 8% of state GDP.
- The index reached a record high in 2021.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted quantity of goods and services produced by the administrative, support, waste management, and remediation services sector in Virginia.
Q: Why is this trend relevant for users or analysts?
A: Trends in this index provide important insights into the performance and competitiveness of a critical service industry in Virginia's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index formula to measure real output.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this index to assess the health and growth of Virginia's business services industry, which informs economic development strategies.
Q: Are there update delays or limitations?
A: The index data is published quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in Virginia (VAADMINWASTQQGSP), retrieved from FRED.