Chain-Type Quantity Index for Real GDP: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Virginia
VAFININSREALQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
118.19
Year-over-Year Change
18.41%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the chain-type quantity index for real GDP in the finance, insurance, real estate, rental, and leasing sectors in Virginia. It provides insights into the productivity and output growth of these key industries in 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 chain-type quantity index for real GDP tracks inflation-adjusted output in specific economic sectors. This metric allows analysts to assess the real (inflation-adjusted) economic performance of the finance, insurance, real estate, rental, and leasing industries in Virginia over time.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Historical Context
This trend is used by economists, policymakers, and businesses to understand the dynamics of Virginia's service-oriented economy.
Key Facts
- Virginia's finance, insurance, real estate, rental, and leasing sectors account for over 20% of the state's GDP.
- This index has grown by an average of 2.5% annually over the past decade.
- The real estate and rental/leasing industries make up the largest portion of this economic sector in Virginia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in Virginia's finance, insurance, real estate, rental, and leasing sectors, providing insights into the productivity and output growth of these key industries.
Q: Why is this trend relevant for users or analysts?
A: This metric allows economists, policymakers, and businesses to assess the real economic performance and dynamics of Virginia's service-oriented economy over time.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to understand the economic growth and productivity of Virginia's service industries, which are crucial to the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with some potential for minor delays in publication.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Virginia (VAFININSREALQGSP), retrieved from FRED.