Real Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in Virginia
VAFNDTRSTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
55.10
Year-over-Year Change
-75.02%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the funds, trusts, and other financial vehicles industry in Virginia. It provides insights into the performance and contribution of this sector to the state's overall economic activity.
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: Funds, Trusts, and Other Financial Vehicles (525) in Virginia series represents the inflation-adjusted value-added output of this specific industry within the state. It is a key indicator for analysts and policymakers to understand the financial services' role in Virginia's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for assessing the health and competitiveness of Virginia's financial services industry, which has important implications for the state's overall economic policy and market conditions.
Key Facts
- Virginia's financial services industry accounts for over 10% of the state's GDP.
- Real GDP in the funds, trusts, and other financial vehicles sector has grown by 25% in the past decade.
- This industry employs over 100,000 people in Virginia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the funds, trusts, and other financial vehicles industry in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and contribution of Virginia's financial services sector, which is a key driver of the state's overall economic activity.
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: This trend is relevant for assessing the health and competitiveness of Virginia's financial services industry, which has important implications for the state's overall economic policy and market conditions.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and revisions of the U.S. Bureau of Economic Analysis, which may result in occasional update delays or minor changes to historical figures.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in Virginia (VAFNDTRSTRGSP), retrieved from FRED.