Chain-Type Quantity Index for Real GDP: Motion Picture and Sound Recording Industries (512) in Virginia
VAMOTPICSNDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
266.83
Year-over-Year Change
173.11%
Date Range
1/1/1997 - 1/1/2023
Summary
This index measures the real, inflation-adjusted output of the motion picture and sound recording industries in Virginia. It is an important indicator of economic activity in this key sector.
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 tracks the real output of specific industries in Virginia. This metric allows analysts to assess the productivity and performance of the motion picture and sound recording sector within the state's broader economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production data and price indices.
Historical Context
Policymakers and businesses use this index to understand trends in Virginia's creative industries and make informed economic decisions.
Key Facts
- The index is based on 2012 as the reference year.
- Virginia's motion picture and sound recording sector contributed over $3 billion to the state's GDP in 2021.
- The index experienced a sharp decline in 2020 due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the motion picture and sound recording industries in Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric allows analysts to assess the productivity and performance of Virginia's creative industries, which is crucial for policymakers and businesses.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using production data and price indices.
Q: How is this trend used in economic policy?
A: Policymakers and businesses use this index to understand trends in Virginia's creative industries and make informed economic decisions.
Q: Are there update delays or limitations?
A: The index may be subject to periodic revisions and updates by the data source.
Related Trends
Personal Consumption Expenditures: Goods: Durable Goods: Other Durable Goods for Virginia
VAPCEODURG
All Employees: Government: State Government in Virginia
SMU51000009092000001
Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Virginia
VAAGRNQGSP
Chain-Type Quantity Index for Real GDP: Trade (42, 44-45) in Virginia
VATRADEQGSP
Real Gross Domestic Product: Trade (42, 44-45) in Virginia
VATRADERGSP
All Employees: Manufacturing in Virginia
SMU51000003000000001A
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Motion Picture and Sound Recording Industries (512) in Virginia (VAMOTPICSNDQGSP), retrieved from FRED.