Real Gross Domestic Product: Information (51) in Virginia
VAINFORGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34,370.60
Year-over-Year Change
130.70%
Date Range
1/1/1997 - 1/1/2024
Summary
This series tracks the real gross domestic product (GDP) of the information industry in Virginia. It provides insight into the economic performance and growth of this key sector 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 real GDP for the information industry in Virginia measures the total inflation-adjusted value of goods and services produced by this industry. It is a key indicator of the overall economic health and productivity of the information sector in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is closely monitored by policymakers, analysts, and businesses to assess the competitiveness and growth potential of Virginia's information industry.
Key Facts
- Virginia's information industry accounts for over 10% of the state's total GDP.
- The information sector has experienced steady growth in Virginia, outpacing the overall state economy.
- The real GDP for Virginia's information industry reached a record high in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the information industry in the state of Virginia. It provides a measure of the total inflation-adjusted economic output of this key sector.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the performance and growth of Virginia's information industry, which is a critical component of the state's economy. It helps policymakers, businesses, and analysts assess the competitiveness and development of this sector.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis, a federal statistical agency.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies in Virginia closely monitor this trend to inform decisions and policies that support the growth and competitiveness of the state's information industry.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with a lag of several months. There may also be revisions to historical data as more information becomes available.
Related Trends
Transportation Carbon Dioxide Emissions, All Fuels for Virginia
EMISSCO2TOTVTCTOVAA
Real Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Virginia
VAOTHSERVERGSP
All Employees: Leisure and Hospitality: Arts, Entertainment, and Recreation in Virginia
SMU51000007071000001
Chain-Type Quantity Index for Real GDP: Printing and Related Support Activities (323) in Virginia
VAPRNTQGSP
Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Virginia
VAFRSTFISHNGSP
Rental Vacancy Rate for Virginia
VARVAC
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Information (51) in Virginia (VAINFORGSP), retrieved from FRED.