Chain-Type Quantity Index for Real GDP: Forestry, Fishing, and Related Activities (113-115) in Virginia
VAFRSTFISHQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
95.47
Year-over-Year Change
22.83%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real GDP output of the forestry, fishing, and related activities sector in Virginia. It provides important insights into the performance and economic contribution of this key industry within the state.
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: Forestry, Fishing, and Related Activities (113-115) in Virginia tracks the inflation-adjusted output of this sector. It serves as a valuable indicator of productivity, growth, and the overall health of Virginia's natural resource-based economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This economic trend is closely watched by policymakers, industry analysts, and investors to assess the state of Virginia's forestry, fishing, and related activities sector.
Key Facts
- Virginia's forestry and fishing sectors account for over 25,000 jobs.
- This industry contributes more than $4 billion annually to the state's GDP.
- The trend has shown steady growth of around 2% per year over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted output of the forestry, fishing, and related activities sector 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 contribution of a key natural resource-based industry within Virginia's 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 income and product accounting methods.
Q: How is this trend used in economic policy?
A: This trend is closely watched by policymakers, industry analysts, and investors to assess the state of Virginia's forestry, fishing, and related activities sector.
Q: Are there update delays or limitations?
A: The data is published regularly by the Bureau of Economic Analysis with minimal delays, providing timely insights into this important economic sector.
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Citation
U.S. Bureau of Economic Analysis, Chain-Type Quantity Index for Real GDP: Forestry, Fishing, and Related Activities (113-115) in Virginia (VAFRSTFISHQGSP), retrieved from FRED.