Chain-Type Quantity Index for Real GDP: Accommodation (721) in the District of Columbia
DCACCOMDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
106.89
Year-over-Year Change
12.75%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the chain-type quantity index for real GDP in the accommodation industry (NAICS 721) within the District of Columbia. It provides insight into the economic performance and productivity of the D.C. hospitality sector.
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 tracks changes in the real output of the accommodation industry, adjusting for inflation. This metric is useful for analyzing the industry's contribution to overall economic growth and productivity in the District of Columbia.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures.
Historical Context
This trend is relevant for policymakers, economists, and industry analysts seeking to understand the state of the District's hospitality and tourism economy.
Key Facts
- The base year for this index is 2012.
- The accommodation industry accounted for 1.8% of D.C.'s total GDP in 2021.
- This index reached a record high of 135.6 in Q4 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in the accommodation industry (NAICS 721) within the District of Columbia. It tracks changes in the real output of the D.C. hospitality sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic performance and productivity of the District's hospitality industry, which is an important driver of the local economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers, economists, and industry analysts seeking to understand the state of the District's hospitality and tourism economy.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Federal Reserve with a typical lag of 1-2 months.
Related Trends
Personal Consumption Expenditures: Services: Transportation Services for District of Columbia
DCPCETRANS
Gross Domestic Product: Real Estate and Rental and Leasing (53) in the District of Columbia
DCRERENTLEANQGSP
Number of State Member Commercial Banks in the District of Columbia
X08CBMBSDC
High-Propensity Business Applications: Total for All NAICS in District of Columbia
BAHBATOTALSADC
Electric Power Carbon Dioxide Emissions, Petroleum for District of Columbia
EMISSCO2TOTVECPEDCA
Poverty Universe, Age 0-4 for District of Columbia
PUA0T4DC11000A647NCEN
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Accommodation (721) in the District of Columbia (DCACCOMDQGSP), retrieved from FRED.