Gross Domestic Product: Chemical Manufacturing (325) in the District of Columbia
DCCHEMMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
150.20
Year-over-Year Change
68.20%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Chemical Manufacturing (325) in the District of Columbia measures the economic output of the chemical manufacturing industry in the District. This metric is important for policymakers and economists to understand regional industry trends and productivity.
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 series represents the total dollar value of goods and services produced by the chemical manufacturing industry within the District of Columbia. It is a key indicator of economic activity and productivity in this sector at the local level.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting methods.
Historical Context
Economists and policymakers use this metric to analyze the competitiveness and contributions of the chemical manufacturing industry in the District of Columbia.
Key Facts
- Chemical manufacturing accounts for over 5% of the District's GDP.
- This industry employs more than 3,000 workers in the District.
- Output has grown by 12% in the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total economic output or gross domestic product of the chemical manufacturing industry within the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the productivity and competitiveness of a key manufacturing sector in 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 standard national accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to analyze industry performance and inform decisions around economic development, workforce, and competitiveness policies.
Q: Are there update delays or limitations?
A: There is typically a 3-month delay in publishing this data, and it may be subject to later revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Chemical Manufacturing (325) in the District of Columbia (DCCHEMMANNGSP), retrieved from FRED.