Chain-Type Quantity Index for Real GDP: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Virginia
VAMVEHMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
164.52
Year-over-Year Change
67.34%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the chain-type quantity index for real GDP in the motor vehicles, bodies and trailers, and parts manufacturing industry in Virginia. It provides insight into the production and output of this key economic 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 inflation-adjusted output of the motor vehicles, bodies and trailers, and parts manufacturing industry in Virginia. This metric is used by economists and policymakers to assess the health and growth of this important manufacturing segment within the state's economy.
Methodology
The data is collected and calculated by the U.S. Federal Reserve based on surveys and industry production reports.
Historical Context
This trend is used to monitor economic conditions and guide policy decisions related to the automotive manufacturing industry in Virginia.
Key Facts
- Virginia is a major automotive manufacturing hub.
- This index tracks output for a critical industry sector.
- The data is used to inform economic policy decisions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in the motor vehicles, bodies and trailers, and parts manufacturing industry in Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the production and output of a key manufacturing sector within the Virginia economy, which is important for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve based on surveys and industry production reports.
Q: How is this trend used in economic policy?
A: This trend is used to monitor economic conditions and guide policy decisions related to the automotive manufacturing industry in Virginia.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and potential limitations of Federal Reserve economic indicators.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Virginia (VAMVEHMANQGSP), retrieved from FRED.