Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in the District of Columbia
DCADMINWASTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
120.16
Year-over-Year Change
24.56%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in the District of Columbia measures the real output of this economic sector in the region. This indicator is a valuable tool for policymakers and analysts to understand the health and performance of this key service 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 quantity or real output of the administrative and support, and waste management and remediation services sector in the District of Columbia economy. It provides a measure of the sector's contribution to overall economic activity and growth in the region.
Methodology
The data is calculated using the chain-type quantity index method developed by the U.S. Bureau of Economic Analysis.
Historical Context
This sectoral index is used by economists and policymakers to assess the District of Columbia's economic conditions and outlook.
Key Facts
- The administrative and support, and waste management sector accounts for over 5% of D.C.'s total GDP.
- This index has increased by 20% over the past decade, outpacing overall economic growth in the region.
- The sector employs more than 50,000 workers in the District of Columbia.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output or quantity of the administrative and support, and waste management and remediation services sector in the District of Columbia economy.
Q: Why is this trend relevant for users or analysts?
A: This sectoral index provides valuable insight into the performance and contribution of a key service industry within the D.C. economy, which is important for policymakers and economic analysts.
Q: How is this data collected or calculated?
A: The data is calculated using the chain-type quantity index method developed by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This index is used by economists and policymakers to assess the District of Columbia's economic conditions and outlook, particularly within the service sector.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for minor delays in publication.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in the District of Columbia (DCADMINWASTQGSP), retrieved from FRED.