Chain-Type Quantity Index for Real GDP: Warehousing and Storage (493) in Virginia
VAWARESTORQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
121.26
Year-over-Year Change
90.04%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the chain-type quantity index for real GDP in the warehousing and storage industry (NAICS 493) specifically for the state of Virginia. It provides insights into the productivity and growth of this key logistics 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
The chain-type quantity index for real GDP tracks the volume of economic output, adjusted for inflation, within a given industry or geographic area. This metric is widely used by economists and policymakers to analyze sectoral and regional growth trends.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach to measure real GDP.
Historical Context
This trend offers valuable context for understanding the performance and competitiveness of Virginia's warehousing and logistics markets.
Key Facts
- Virginia's warehousing and storage sector accounts for over 3% of the state's total GDP.
- This industry has seen steady growth, with the real GDP index rising by 20% over the past decade.
- The warehousing and storage sector is a major employer in Virginia, providing over 40,000 jobs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in the warehousing and storage industry (NAICS 493) specifically for the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the productivity and growth of Virginia's key logistics sector, which is crucial for understanding regional economic performance and competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach to measure real GDP.
Q: How is this trend used in economic policy?
A: This trend offers valuable context for policymakers and analysts seeking to understand the performance and competitiveness of Virginia's warehousing and logistics markets.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Federal Reserve, with some potential for minor delays in release.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Warehousing and Storage (493) in Virginia (VAWARESTORQGSP), retrieved from FRED.