Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in the District of Columbia
This dataset tracks gross domestic product: data processing, hosting, and other information services (518-519) in the district of columbia over time.
Latest Value
3129.10
Year-over-Year Change
155.96%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product (GDP) for the Data Processing, Hosting, and Other Information Services (NAICS 518-519) industry in the District of Columbia measures the total economic output of this sector in the region.
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 data series provides insights into the productivity and growth of the information technology and digital services industry in the nation's capital. It is used by economists, policymakers, and industry analysts to understand regional economic trends and competitiveness.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
This metric helps inform policy decisions and private sector investment related to the technology and information economy in Washington, D.C.
Key Facts
- The information services industry accounts for over 7% of D.C.'s total GDP.
- D.C.'s information services GDP has grown by 25% over the past 5 years.
- The District of Columbia ranks 2nd among U.S. states/territories for information services GDP per capita.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total economic output or Gross Domestic Product (GDP) of the Data Processing, Hosting, and Other Information Services industry (NAICS 518-519) in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This data helps economists, policymakers, and industry analysts understand the productivity and growth of the information technology and digital services sector in the nation's capital, which is a critical part of the regional economy.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects this data through surveys and economic modeling to determine the GDP contribution of the information services industry in D.C.
Q: How is this trend used in economic policy?
A: This metric informs decisions and investments related to the technology and information economy in Washington, D.C. by government, businesses, and other stakeholders.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in the District of Columbia (DCDATAWWWNGSP), retrieved from FRED.