Chain-Type Quantity Index for Real GDP: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Virginia
VAOTRANEQMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
174.66
Year-over-Year Change
53.86%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Virginia measures the inflation-adjusted output of this industry sector in the state. It provides important insights into the productivity and growth trends of Virginia's transportation equipment manufacturing 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
This index tracks the real output of businesses involved in the production of other transportation equipment, such as aerospace products, railroad rolling stock, and ships and boats, within the Commonwealth of Virginia. It is a key indicator for economists and policymakers seeking to understand the health and dynamics of this vital manufacturing industry in the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
This index helps inform economic and policy decisions related to transportation manufacturing and infrastructure investment in Virginia.
Key Facts
- Virginia is a major hub for transportation equipment manufacturing.
- This index reflects the productivity of over 700 companies in the state.
- The transportation sector accounts for over 6% of Virginia's GDP.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted output of the other transportation equipment manufacturing industry in Virginia, including aerospace, rail, and shipbuilding.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides valuable insights into the productivity and growth of a key manufacturing sector in Virginia, which is critical for understanding the state's overall economic performance.
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 formula.
Q: How is this trend used in economic policy?
A: This index helps inform economic and policy decisions related to transportation manufacturing and infrastructure investment in Virginia.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Virginia (VAOTRANEQMANQGSP), retrieved from FRED.