Chain-Type Quantity Index for Real GDP: Other Transportation and Support Activities (487-488, 492) in West Virginia
WVOTHTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
124.01
Year-over-Year Change
21.11%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the chain-type quantity index for real GDP in the other transportation and support activities sector in West Virginia. It provides insight into the performance and growth of this key industry within 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 represents the real, inflation-adjusted output of the other transportation and support activities sector, which includes transportation services, support activities for transportation, and warehousing and storage. This metric is used by economists and policymakers to analyze industry-level economic activity and productivity.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounts (NIPA) methodology.
Historical Context
This economic indicator can inform state-level policy decisions and help businesses and investors understand regional economic trends.
Key Facts
- The index is set to 100 in the base year of 2012.
- West Virginia's other transportation and support activities sector accounted for 3.2% of the state's real GDP in 2021.
- The index has grown by an average of 1.8% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in the other transportation and support activities sector in West Virginia. It captures the real, inflation-adjusted output of this key industry.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and growth of the transportation and logistics industry within West Virginia's economy, which is useful for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounts (NIPA) methodology.
Q: How is this trend used in economic policy?
A: This indicator can inform state-level policy decisions and help businesses and investors understand regional economic trends in the transportation and logistics sector.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 quarter delay by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Other Transportation and Support Activities (487-488, 492) in West Virginia (WVOTHTRANQGSP), retrieved from FRED.