Real Gross Domestic Product: Manufacturing (31-33) in Virginia
Annual, Not Seasonally Adjusted
VAMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
44,367.40
Year-over-Year Change
2.20%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' series measures the value-added by the manufacturing sector in the U.S. economy. This metric is a key indicator of the overall health and productivity of the manufacturing industry.
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 value-added by manufacturing represents the total economic output of the manufacturing sector, excluding the costs of intermediate goods and services. This statistic is widely used by economists and policymakers to analyze trends in industrial production and gauge the strength of the manufacturing economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on surveys of manufacturing establishments.
Historical Context
The manufacturing value-added trend informs economic and trade policy decisions that impact the competitiveness of U.S. manufacturers.
Key Facts
- Manufacturing accounts for about 11% of U.S. GDP.
- The U.S. is the world's second-largest manufacturer behind China.
- Manufacturing productivity has grown over 2.5x faster than the overall economy since 2000.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' series measures the total economic output or value-added by the U.S. manufacturing sector, excluding the costs of intermediate goods and services.
Q: Why is this trend relevant for users or analysts?
A: The manufacturing value-added trend is a key indicator of the overall health and productivity of the U.S. industrial base, which is vital for economic growth and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on surveys of manufacturing establishments.
Q: How is this trend used in economic policy?
A: The manufacturing value-added trend informs economic and trade policy decisions that aim to support the competitiveness of U.S. manufacturers.
Q: Are there update delays or limitations?
A: The annual, not seasonally adjusted manufacturing value-added data is published with a delay of several months after the end of the reference year.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (VAMANRGSP), retrieved from FRED.