Chain-Type Quantity Index for Real GDP: Rail Transportation (482) in Virginia
VARAILTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
81.36
Year-over-Year Change
-22.71%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Rail Transportation (482) in Virginia measures the volume of output in the rail transportation sector of Virginia's economy. This metric is a key indicator of economic activity and productivity in the state.
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 changes in the real, inflation-adjusted quantity of output for the rail transportation industry in Virginia. It is used by economists and policymakers to assess the health and performance of this important economic sector within the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using quantity and price indices.
Historical Context
This economic trend provides insight into the role of rail transport in Virginia's overall economic landscape.
Key Facts
- The base year for this index is 2012.
- Rail transportation accounts for 2.1% of Virginia's total GDP.
- This index reached its highest point in 2018.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted quantity of output for the rail transportation industry in Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and economic contribution of the rail transportation sector, which is a key component of Virginia's overall economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using quantity and price indices.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to assess the health and performance of the rail transportation industry in Virginia, which can inform infrastructure investment, regulatory, and economic development decisions.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Rail Transportation (482) in Virginia (VARAILTRANQGSP), retrieved from FRED.