Real Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in the District of Columbia
DCDATAWWWRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,575.40
Year-over-Year Change
209.08%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the data processing, hosting, and other information services (NAICS 518-519) industry in the District of Columbia. It provides insights into the performance and growth of this key technology sector within the local economy.
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: Data Processing, Hosting, and Other Information Services (518-519) in the District of Columbia metric tracks the inflation-adjusted output of this industry, which includes businesses providing web hosting, data processing, and other digital services. This data is a valuable indicator of the technological and innovation capacity in the nation's capital.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Historical Context
Economists and policymakers monitor this metric to assess the competitiveness and growth potential of the District of Columbia's technology industry.
Key Facts
- The District of Columbia has the highest concentration of technology jobs in the U.S.
- Data processing and hosting account for over 10% of the District's GDP.
- This industry has experienced rapid growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the data processing, hosting, and other information services industry in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the performance and growth of a key technology sector within the District of Columbia's economy, which is important for understanding the region's economic competitiveness and innovation capacity.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this metric to assess the growth potential of the District of Columbia's technology industry and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, and may be subject to revisions as more complete information becomes available.
Related Trends
Real Gross Domestic Product: Wood Product Manufacturing (321) in the District of Columbia
DCWPMANRGSP
Per Capita Personal Consumption Expenditures: Services: Transportation Services for District of Columbia
DCPCEPCTRANS
Real Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in the District of Columbia
DCFININSREALRGSP
Total Tax Exemptions for District of Columbia
TOTEXMDC11A647NCEN
Value of Exports to Israel from District of Columbia
DCISRA052SCEN
Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in the District of Columbia
DCMINQQGSP
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in the District of Columbia (DCDATAWWWRGSP), retrieved from FRED.