Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Virginia
VADURMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19,808.10
Year-over-Year Change
23.42%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) for the durable goods manufacturing sector in 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: Durable Goods Manufacturing (321, 327-339) in Virginia series tracks the inflation-adjusted output of the durable goods manufacturing industry in the state. This metric is used by economists and policymakers to assess the health and competitiveness of Virginia's manufacturing sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using input-output modeling and price deflators.
Historical Context
This trend is closely monitored by state and federal officials to inform economic policies and investment decisions.
Key Facts
- Virginia's durable goods manufacturing sector accounts for over 10% of the state's GDP.
- This industry employs more than 200,000 workers in Virginia.
- The real GDP of Virginia's durable goods manufacturing has grown by 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the durable goods manufacturing industry in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and productivity of a critical sector of Virginia's economy, which can inform investment decisions and economic policies.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using input-output modeling and price deflators.
Q: How is this trend used in economic policy?
A: State and federal officials closely monitor this trend to assess the health of Virginia's manufacturing sector and inform policies and investment decisions.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with a delay of several months from the end of the reporting period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Virginia (VADURMANRGSP), retrieved from FRED.