Real Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in the District of Columbia
DCAMUSERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
157.40
Year-over-Year Change
43.09%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the real gross domestic product (GDP) of the amusement, gambling, and recreation industries (NAICS 713) in the District of Columbia. It provides insights into the economic performance and growth of the leisure and hospitality sector in the nation's capital.
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 real GDP of the amusement, gambling, and recreation industries in the District of Columbia reflects the total inflation-adjusted value of goods and services produced by this sector. It is a key indicator of the economic vitality and competitiveness of Washington, D.C.'s tourism and entertainment industries.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard national accounting methods.
Historical Context
This metric is closely watched by policymakers, urban planners, and industry analysts to assess the District of Columbia's economic diversification and resilience.
Key Facts
- The amusement, gambling, and recreation industries account for approximately 2% of D.C.'s total GDP.
- This sector saw a significant decline during the COVID-19 pandemic but has since started to recover.
- Washington, D.C. is home to numerous museums, monuments, and other attractions that drive tourism and recreation spending.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real gross domestic product (GDP) of the amusement, gambling, and recreation industries (NAICS 713) in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and growth of the leisure and hospitality sector in Washington, D.C., which is a key driver of the city's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard national accounting methods.
Q: How is this trend used in economic policy?
A: This metric is closely watched by policymakers, urban planners, and industry analysts to assess the District of Columbia's economic diversification and resilience.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for delays due to the comprehensive nature of the national accounts data.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in the District of Columbia (DCAMUSERGSP), retrieved from FRED.