Chain-Type Quantity Index for Real GDP: Air Transportation (481) in West Virginia
WVAIRTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
228.68
Year-over-Year Change
-20.07%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Air Transportation (481) in West Virginia measures the real output of the air transportation industry in the state, adjusted for inflation. This metric is important for economists and policymakers to assess the health and growth of a key component of the state'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: Air Transportation (481) in West Virginia is a measure of the real, inflation-adjusted output of the air transportation industry in the state. It is used to track the productivity and economic contribution of this sector over time, providing valuable insights for businesses, policymakers, and economic analysts.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on industry-level production and price information.
Historical Context
This economic trend is relevant for understanding the broader performance of West Virginia's transportation and logistics sectors, and can inform policy decisions related to infrastructure, regulation, and economic development.
Key Facts
- The index uses 2012 as the base year.
- Air transportation is a significant contributor to West Virginia's economy.
- The index has shown modest growth in recent years.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Air Transportation (481) in West Virginia measures the real, inflation-adjusted output of the air transportation industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the productivity and economic contribution of the air transportation sector in West Virginia, which is important for businesses, policymakers, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on industry-level production and price information.
Q: How is this trend used in economic policy?
A: This economic trend is relevant for understanding the broader performance of West Virginia's transportation and logistics sectors, and can inform policy decisions related to infrastructure, regulation, and economic development.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Federal Reserve, but there may be some delays or limitations in availability depending on the source.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Air Transportation (481) in West Virginia (WVAIRTRANQGSP), retrieved from FRED.