Chain-Type Quantity Index for Real GDP: Administrative and Support Services (561) in the District of Columbia
DCADMINSUPQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
120.53
Year-over-Year Change
26.79%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Administrative and Support Services (561) in the District of Columbia measures the inflation-adjusted output of the administrative and support services sector in the District. This metric is a key indicator of economic activity and productivity in the region.
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 the real, inflation-adjusted value of goods and services produced by the administrative and support services industry in the District of Columbia. This data provides insight into the performance and growth of this important service sector, which includes activities such as office administration, facilities support, and business support services.
Methodology
The index is calculated by the U.S. Bureau of Economic Analysis using input data on industry output.
Historical Context
This metric is closely watched by policymakers, economists, and businesses to assess the state of the District's economy and inform economic policy decisions.
Key Facts
- The index has a base year of 2012.
- The administrative and support services sector accounts for over 18% of D.C.'s GDP.
- The index reached a record high in 2021.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Administrative and Support Services (561) in the District of Columbia measures the inflation-adjusted output of the administrative and support services sector in the District.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and growth of the administrative and support services industry, a key component of the District's economy. It is closely watched by policymakers, economists, and businesses to assess economic conditions in the region.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Economic Analysis using input data on industry output.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers, economists, and businesses to assess the state of the District's economy and inform economic policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, reflecting the time required to collect and process the underlying information.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Administrative and Support Services (561) in the District of Columbia (DCADMINSUPQGSP), retrieved from FRED.