Chain-Type Quantity Index for Real GDP: Construction (23) in West Virginia
WVCONSTQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
91.22
Year-over-Year Change
4.28%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Construction (23) in West Virginia measures the real output of the construction industry in the state, providing insights into economic activity and growth.
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
This index tracks the volume of construction activity in West Virginia, adjusting for price changes to give a real, inflation-adjusted measure of output. It is a key indicator for analysts and policymakers seeking to understand the state's economic performance and trends.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounts methodologies.
Historical Context
This metric is widely used to assess the health of West Virginia's construction sector and its contribution to the state's overall economic growth.
Key Facts
- West Virginia's construction industry accounts for over 5% of the state's GDP.
- The index has shown steady growth in recent years, indicating a robust construction sector.
- Construction is a key driver of economic activity and employment in West Virginia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted output of the construction industry in the state of West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the health and performance of West Virginia's construction sector, which is a crucial component of the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national accounts methodologies.
Q: How is this trend used in economic policy?
A: This index is widely used by economists, policymakers, and analysts to assess the state of West Virginia's construction industry and its contribution to the broader economy.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule by the U.S. Bureau of Economic Analysis, with minimal delays. As with any economic indicator, there may be revisions or limitations in the underlying data sources.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Construction (23) in West Virginia (WVCONSTQQGSP), retrieved from FRED.