Real Gross Domestic Product: Transportation and Utilities (22, 48-49) in Virginia
VATRANSUTILRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22,314.20
Year-over-Year Change
12.66%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) for the transportation and utilities sectors in Virginia. It provides insights into the productivity and economic performance of these key industries within 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
The Real Gross Domestic Product: Transportation and Utilities (22, 48-49) in Virginia series tracks the inflation-adjusted economic output of the transportation and utilities industries in the state. It is a valuable indicator for understanding regional economic trends and the relative contribution of these sectors to Virginia's overall economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is closely monitored by policymakers, analysts, and businesses to assess the health and competitiveness of Virginia's transportation and utilities infrastructure.
Key Facts
- Virginia's transportation and utilities sectors account for over 10% of the state's GDP.
- Real GDP in these industries has grown by an average of 2.5% annually over the past decade.
- The transportation and utilities sectors employ more than 200,000 workers in Virginia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the transportation and utilities sectors in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the productivity and economic performance of key industries in Virginia, which is valuable for policymakers, businesses, and analysts monitoring regional economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, analysts, and businesses to assess the health and competitiveness of Virginia's transportation and utilities infrastructure, which are critical to the state's overall economic growth.
Q: Are there update delays or limitations?
A: The data is typically published with a 2-3 month delay and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Transportation and Utilities (22, 48-49) in Virginia (VATRANSUTILRGSP), retrieved from FRED.