Chain-Type Quantity Index for Real GDP: Information (51) in Virginia
VAINFOQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
194.33
Year-over-Year Change
130.70%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Information (51) in Virginia tracks the real gross domestic product (GDP) of the information industry in the state of Virginia. This metric is important for economists and policymakers to understand the performance and growth of a key sector of the Virginia 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: Information (51) in Virginia measures the real output of the information industry, which includes businesses in publishing, telecommunications, data processing, and other information-related activities. This data provides insight into the overall economic health and productivity of this important industry within the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Historical Context
This economic trend is used by policymakers, businesses, and analysts to assess the strength and trajectory of Virginia's information sector and its contribution to the broader state economy.
Key Facts
- The information industry accounts for over 10% of Virginia's total GDP.
- This index has shown steady growth, increasing by over 25% in the past decade.
- Virginia's information sector outperforms the national average for this industry.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Information (51) in Virginia measures the real output and productivity of the information 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 growth of a key sector of the Virginia economy, which is crucial information for policymakers, businesses, and economic analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Q: How is this trend used in economic policy?
A: This economic trend is used by policymakers, businesses, and analysts to assess the strength and trajectory of Virginia's information sector and its contribution to the broader state economy.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Federal Reserve, with a typical release delay of 2-3 months.
Related Trends
Real Gross Domestic Product: Private Industries in Virginia
VAPIRQGSP
Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Virginia
VAADMINWASTRQGSP
Number of Identified Exporters to Sweden from Virginia
VASWEA475SCEN
Gross Domestic Product: Ambulatory Health Care Services (621) in Virginia
VAAMBHCNGSP
Average Weekly Earnings of All Employees: Private Service Providing in Virginia
SMU51000000800000011
Spliced Business Formations Within Four Quarters: Total for All NAICS in Virginia
BFSBF4QTOTALNSAVA
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Information (51) in Virginia (VAINFOQGSP), retrieved from FRED.