Real Gross Domestic Product: Chemical Manufacturing (325) in the District of Columbia
DCCHEMMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
125.80
Year-over-Year Change
17.90%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic indicator measures the real gross domestic product (GDP) of the chemical manufacturing industry (NAICS code 325) in the District of Columbia. It provides valuable insights into the performance and productivity of this key economic sector.
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 Gross Domestic Product: Chemical Manufacturing (325) in the District of Columbia series represents the total inflation-adjusted economic output of the chemical manufacturing industry in the nation's capital. This metric is used by economists and policymakers to assess the health and competitiveness of the District's industrial base.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
Trends in this series are closely monitored by federal, state, and local officials to inform economic development strategies and policies.
Key Facts
- Chemical manufacturing accounts for over 12% of D.C.'s total GDP.
- The industry employs more than 3,000 workers in the District.
- Real GDP in this sector has grown by 8% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the total real (inflation-adjusted) economic output of the chemical manufacturing industry in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: Tracking the performance of this key industrial sector provides important insights into the overall strength and competitiveness of the D.C. economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: Trends in this series are closely monitored by federal, state, and local officials to inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis with a lag of several months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Chemical Manufacturing (325) in the District of Columbia (DCCHEMMANRGSP), retrieved from FRED.