Chain-Type Quantity Index for Real GDP: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in the District of Columbia
DCARTETRTACCFDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
103.98
Year-over-Year Change
17.06%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in the District of Columbia measures the real economic output of these key service sectors 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
This index provides a measure of the quantity of goods and services produced within the arts, entertainment, recreation, accommodation, and food services industries in the District of Columbia, adjusted for price changes. It is a valuable indicator of economic activity and consumer demand in these crucial sectors.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Historical Context
Policymakers and analysts use this index to assess the state of the District's service economy and its contribution to overall economic performance.
Key Facts
- The index has a base year of 2012.
- The service sectors covered employ over 100,000 people in the District.
- The index is seasonally adjusted.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the arts, entertainment, recreation, accommodation, and food services industries in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This index provides valuable insights into the performance of key service sectors in the nation's capital, which are crucial contributors to 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 a chain-type quantity index methodology.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the state of the District's service economy and its contribution to overall economic performance.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the Federal Reserve, with a typical release delay of 1-2 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in the District of Columbia (DCARTETRTACCFDQGSP), retrieved from FRED.