Chain-Type Quantity Index for Real GDP: Transportation and Warehousing (48-49) in West Virginia
WVTRANSWAREQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
81.55
Year-over-Year Change
-8.19%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Transportation and Warehousing (48-49) in West Virginia measures the inflation-adjusted output of the transportation and warehousing sector in the state. It is a key indicator of economic activity and productivity in this important industry.
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 real output of transportation and warehousing businesses in West Virginia, including activities such as trucking, rail transport, air transportation, and warehousing and storage. It provides insights into the health and productivity of this sector, which is crucial for the state's economy.
Methodology
The data is calculated based on Bureau of Economic Analysis (BEA) methods for constructing real, chain-type quantity indexes.
Historical Context
Policymakers and analysts use this index to assess the performance of West Virginia's transportation and logistics industries and their broader economic implications.
Key Facts
- The index has a base year of 2012.
- Transportation and warehousing account for over 5% of West Virginia's GDP.
- The index reached its highest point in 2018.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the transportation and warehousing sector in West Virginia. It tracks the productivity and activity levels of businesses in this crucial industry.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the performance and health of West Virginia's transportation and logistics industries, which are vital for the state's economic growth and competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the Bureau of Economic Analysis using standard methods for constructing real, chain-type quantity indexes.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to assess the state of West Virginia's transportation and warehousing sector, informing decisions related to infrastructure investment, industry regulation, and economic development strategies.
Q: Are there update delays or limitations?
A: The index is updated quarterly, with a lag of approximately three months. There may be occasional revisions to historical data as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Transportation and Warehousing (48-49) in West Virginia (WVTRANSWAREQQGSP), retrieved from FRED.