Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in the District of Columbia
DCCHEMMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
179.43
Year-over-Year Change
17.88%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in the District of Columbia measures the real output of the chemical manufacturing industry in Washington, D.C. This metric is crucial for economists and policymakers to understand regional economic trends and industry-specific production.
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 of real (inflation-adjusted) output from the chemical manufacturing sector in the District of Columbia. It is a valuable indicator of the health and productivity of this key industry within the local economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using detailed industry-level production and price information.
Historical Context
Policymakers and analysts monitor this index to assess the competitiveness and growth of the District's chemical manufacturing industry.
Key Facts
- The chemical manufacturing industry is a major employer in the District of Columbia.
- This index has shown steady growth in recent years, indicating a thriving local sector.
- The District of Columbia accounts for a small but significant share of national chemical production.
FAQs
Q: What does this economic trend measure?
A: This index measures the real (inflation-adjusted) quantity of output from the chemical manufacturing industry in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding the health and productivity of a key industry within the District's local economy.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis calculates this index using detailed industry-level production and price information.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this index to assess the competitiveness and growth of the District's chemical manufacturing industry.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule with minimal delays, providing timely insights into this important economic sector.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in the District of Columbia (DCCHEMMANQGSP), retrieved from FRED.