Gross Domestic Product: Retail Trade (44-45) in Virginia
VARETAILNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
44,222.50
Year-over-Year Change
16.19%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product (GDP) Retail Trade (44-45) in Virginia measure tracks the total economic output of the retail sector in the state of Virginia. It is a key indicator of consumer spending and economic health.
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 GDP Retail Trade (44-45) in Virginia represents the total value added by the retail trade industry to the state's overall economic production. It is a subset of the broader state GDP measure and provides insights into a critical component of the local economy.
Methodology
This data is collected and calculated by the U.S. Bureau of Economic Analysis using surveys and economic modeling.
Historical Context
Policymakers and analysts use this metric to assess the strength of consumer demand and the performance of the retail industry in Virginia.
Key Facts
- Virginia's retail GDP accounts for over 15% of the state's total economic output.
- The retail sector employs more than 400,000 people in Virginia.
- Retail GDP growth in Virginia has outpaced the national average in recent years.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) Retail Trade (44-45) in Virginia measure tracks the total economic output of the retail sector in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer spending and the performance of a critical industry within the Virginia economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the strength of consumer demand and the performance of the retail industry in Virginia.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Retail Trade (44-45) in Virginia (VARETAILNQGSP), retrieved from FRED.