Real Gross Domestic Product: Professional, Scientific, and Technical Services (54) in Virginia
Quarterly, Seasonally Adjusted Annual Rate
VAPROBUSRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
100,288.30
Year-over-Year Change
13.14%
Date Range
1/1/2005 - 1/1/2025
Summary
The Quarterly, Seasonally Adjusted Annual Rate measures the real gross state product (GSP) for the U.S. business sector. This metric is a key indicator of economic growth and productivity at the state level.
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 Quarterly, Seasonally Adjusted Annual Rate provides a comprehensive view of the business sector's contribution to overall state-level economic activity. Economists and policymakers use this data to assess regional economic trends and guide fiscal and monetary policy decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on detailed industry and state-level production inputs.
Historical Context
This metric informs analysts' understanding of state and regional economic performance, which can influence national policy.
Key Facts
- The data is reported on a quarterly basis.
- Seasonal adjustments account for predictable fluctuations.
- The series dates back to 1997.
FAQs
Q: What does this economic trend measure?
A: The Quarterly, Seasonally Adjusted Annual Rate measures the real gross state product (GSP) for the U.S. business sector, providing a comprehensive view of regional economic activity.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of business-sector productivity and growth, informing economists' and policymakers' understanding of regional economic performance.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on detailed industry and state-level production inputs.
Q: How is this trend used in economic policy?
A: This metric informs analysts' understanding of state and regional economic performance, which can influence national fiscal and monetary policy decisions.
Q: Are there update delays or limitations?
A: The data is reported on a quarterly basis, with a lag of several months between the reference period and publication.
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Citation
U.S. Federal Reserve, Quarterly, Seasonally Adjusted Annual Rate (VAPROBUSRQGSP), retrieved from FRED.