Real Gross Domestic Product: Broadcasting (Except Internet) and Telecommunications (515, 517) in Virginia
VABRDTELERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,017.30
Year-over-Year Change
36.52%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) for the broadcasting (except internet) and telecommunications industries in the state of Virginia. It is an important indicator of economic activity and productivity in this key sector.
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: Broadcasting (Except Internet) and Telecommunications (515, 517) in Virginia metric tracks the output and growth of these critical communications industries within the state. It provides valuable insights into regional economic performance and the vitality of these technology-driven sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established GDP accounting methodologies.
Historical Context
This trend is closely monitored by policymakers, analysts, and industry participants to assess the economic conditions and development of Virginia's broadcasting and telecommunications industries.
Key Facts
- Virginia's broadcasting and telecommunications sector accounts for over 4% of the state's total GDP.
- This industry has experienced steady growth, with real GDP increasing by 15% over the past decade.
- The COVID-19 pandemic boosted demand for telecommunications services in Virginia, leading to a 3.2% increase in real GDP in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the broadcasting (except internet) and telecommunications industries within the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the economic performance and productivity of a critical sector in Virginia, which is important for understanding regional economic conditions and development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established GDP accounting methodologies.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, analysts, and industry participants to assess the economic conditions and development of Virginia's broadcasting and telecommunications industries, which inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay from the end of the reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Broadcasting (Except Internet) and Telecommunications (515, 517) in Virginia (VABRDTELERGSP), retrieved from FRED.