Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Virginia
VAGOVQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
105.87
Year-over-Year Change
5.74%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Virginia measures the volume of economic output from the government sector in the state. This trend is crucial for policymakers to understand the role of the public sector in Virginia'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
This index tracks the real, inflation-adjusted output of government activities in Virginia, including federal, state, and local government agencies and enterprises. It provides a measure of the volume of government services produced, rather than just spending levels, offering insights into the productivity and efficiency of the public sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Historical Context
Policymakers and analysts use this index to assess the economic contribution of the government in Virginia and inform decisions around public spending, taxation, and regulatory policies.
Key Facts
- Virginia's government sector accounts for over 15% of the state's total economic output.
- The government index has grown by an average of 2.3% annually over the past decade.
- Public sector productivity is a key driver of Virginia's overall economic performance.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted volume of economic output from the government sector in Virginia, including federal, state, and local agencies and enterprises.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the productivity and efficiency of the public sector in Virginia, which is crucial for policymakers to understand the role of government in the state's economy.
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: Policymakers and analysts use this index to assess the economic contribution of the government in Virginia and inform decisions around public spending, taxation, and regulatory policies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis with a typical delay of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Virginia (VAGOVQQGSP), retrieved from FRED.