Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Virginia
VATEXTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
91.50
Year-over-Year Change
-42.61%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Virginia measures the inflation-adjusted output of the textile industry in the state. This metric is crucial for economists and policymakers to assess the health and productivity of a key manufacturing 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
This index tracks the volume of real GDP, or inflation-adjusted economic output, specifically for textile mills and textile product mills in the state of Virginia. It is a valuable indicator of the textile industry's contribution to the overall economy and can help inform policy decisions related to this important manufacturing segment.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-type index methodology.
Historical Context
Policymakers and industry analysts use this metric to gauge the performance and competitiveness of Virginia's textile manufacturing sector.
Key Facts
- The index has a base year of 2012.
- Virginia's textile industry accounts for over 10,000 jobs.
- The index has shown steady growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted output or real GDP of the textile mills and textile product mills industry in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding the performance and competitiveness of a key manufacturing sector in 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 a chain-type index methodology.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to gauge the health and productivity of Virginia's textile manufacturing sector, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule by the U.S. Bureau of Economic Analysis, with minimal update delays.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Virginia (VATEXTQGSP), retrieved from FRED.