Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in the District of Columbia
DCFININSQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
96.70
Year-over-Year Change
3.93%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in the District of Columbia measures the volume of economic output from the finance and insurance sector in the region. This metric is important for evaluating the health and growth of a key industry within the District's 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
This index tracks changes in the real (inflation-adjusted) quantity of goods and services produced by the finance and insurance industry in the District of Columbia. It is a useful indicator of economic activity and productivity in this critical sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar methodology to account for price changes over time.
Historical Context
Policymakers and economists monitor this index to assess the performance and contribution of the finance and insurance industry to the overall Washington, D.C. economy.
Key Facts
- The index uses 2012 as the base year.
- Finance and insurance is a major sector in the D.C. economy.
- The index is released quarterly by the U.S. Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output volume of the finance and insurance industry in the District of Columbia. It tracks changes in the quantity of goods and services produced by this key sector.
Q: Why is this trend relevant for users or analysts?
A: The finance and insurance industry is a critical component of the D.C. economy, so this index provides valuable insights into the performance and growth of this important sector.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar methodology to account for price changes over time.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this index to assess the contribution of the finance and insurance industry to the overall Washington, D.C. economy and inform policy decisions.
Q: Are there update delays or limitations?
A: The index is released quarterly by the U.S. Bureau of Economic Analysis, so there may be a short delay between the end of the reference period and the data release.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in the District of Columbia (DCFININSQGSP), retrieved from FRED.