Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Virginia
VAFABRMETQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
87.30
Year-over-Year Change
-12.84%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Virginia measures the real output of the fabricated metal product manufacturing industry in the state. This metric is crucial for economists and policymakers to understand regional economic trends and inform policy decisions.
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 gross domestic product (GDP) for the fabricated metal product manufacturing industry in Virginia. It provides a quantitative measure of production activity that is adjusted for inflation, allowing for accurate comparisons over time.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric is widely used by economists, analysts, and policymakers to assess the health and performance of Virginia's manufacturing sector.
Key Facts
- The base year for this index is 2012.
- Manufacturing accounts for approximately 10% of Virginia's GDP.
- Fabricated metal product manufacturing is a key industry in the state.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output of the fabricated metal product manufacturing industry in Virginia, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and health of a key manufacturing sector in the Virginia economy.
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 national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the state of Virginia's manufacturing sector and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical lag of 2-3 months.
Related Trends
Average Weekly Hours of All Employees: Financial Activities in Virginia
SMU51000005500000002A
Real Gross Domestic Product: Utilities (22) in Virginia
VAUTILRQGSP
Gross Domestic Product: Rail Transportation (482) in Virginia
VARAILTRANNGSP
90% Confidence Interval Lower Bound of Estimate of Median Household Income for Virginia
MHICILBVA51000A052NCEN
Total Deposits in All Banks in Virginia
X08TDABVA
Chain-Type Quantity Index for Real GDP: All Industry Total in Virginia
VAQGSP
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Virginia (VAFABRMETQGSP), retrieved from FRED.