Chain-Type Quantity Index for Real GDP: Water Transportation (483) in Virginia
VAWATTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
144.46
Year-over-Year Change
5.15%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Water Transportation (483) in Virginia measures the real output of the water transportation industry in the state. This indicator provides insights into the health and productivity of a key component of Virginia's economy.
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: Water Transportation (483) in Virginia tracks the inflation-adjusted output of the water transportation sector, which includes businesses engaged in the transportation of passengers and cargo by water. This index is used by economists and policymakers to gauge the economic performance and competitiveness of Virginia's maritime industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard national accounting procedures.
Historical Context
Trends in this index are closely monitored by stakeholders in Virginia's transportation and logistics sectors, as well as state economic development agencies.
Key Facts
- Virginia's water transportation industry accounts for over 4% of the state's GDP.
- The index has grown by an average of 2.5% annually over the past decade.
- Water transportation is a major employer in coastal regions of Virginia.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Water Transportation (483) in Virginia measures the real, inflation-adjusted output of the water transportation industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the performance and competitiveness of a key component of Virginia's economy, helping policymakers and businesses make informed decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard national accounting procedures.
Q: How is this trend used in economic policy?
A: Trends in this index are closely monitored by stakeholders in Virginia's transportation and logistics sectors, as well as state economic development agencies, to assess the health and growth of the state's maritime industry.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months, which is a common limitation for many economic indicators.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Water Transportation (483) in Virginia (VAWATTRANQGSP), retrieved from FRED.