Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in Virginia
VAWHOLEQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
103.18
Year-over-Year Change
13.70%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in Virginia measures the inflation-adjusted output of the wholesale trade sector in the state. This metric is closely watched by economists and policymakers to assess the overall health 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: Wholesale Trade (42) in Virginia is a measure of the real, inflation-adjusted value of goods traded by wholesale businesses in the state. It serves as an important indicator of economic activity and can provide insights into broader consumer and business trends.
Methodology
This index is calculated by the U.S. Bureau of Economic Analysis using data collected through surveys of wholesale trade businesses.
Historical Context
Policymakers and analysts use this metric to monitor the performance of Virginia's wholesale trade industry and its contribution to the state's overall economic growth.
Key Facts
- The index is based on 2012 as the base year.
- Virginia's wholesale trade sector accounts for over 6% of the state's GDP.
- The index has shown steady growth in recent years, indicating a robust wholesale trade industry.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in Virginia measures the inflation-adjusted output of the wholesale trade sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by economists and policymakers as an indicator of the overall health of Virginia's economy, providing insights into consumer and business trends.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Economic Analysis using data collected through surveys of wholesale trade businesses in Virginia.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to monitor the performance of Virginia's wholesale trade industry and its contribution to the state's overall economic growth.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with some potential for minor delays or revisions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in Virginia (VAWHOLEQGSP), retrieved from FRED.