Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in the District of Columbia
DCFININSREALNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25,482.70
Year-over-Year Change
95.22%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) of the finance, insurance, real estate, rental, and leasing sectors in the District of Columbia. It provides important insights into the strength and composition of the region'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
The DCFININSREALNGSP series represents the total economic output or value-added from key service-producing industries in Washington, D.C. It is a useful indicator for understanding the capital region's economic structure and competitiveness.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Historical Context
Policymakers and analysts use this metric to evaluate the health and trajectory of D.C.'s finance and real estate-focused economy.
Key Facts
- D.C. has a large and influential finance and real estate sector.
- This industry group accounts for over 30% of the district's total GDP.
- The sector has seen steady growth in recent decades.
FAQs
Q: What does this economic trend measure?
A: The DCFININSREALNGSP series tracks the gross domestic product (GDP) contributed by the finance, insurance, real estate, rental, and leasing industries in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the strength and composition of D.C.'s service-based economy, which is heavily focused on finance, real estate, and related activities.
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: Policymakers and analysts use this metric to evaluate the health and trajectory of D.C.'s finance and real estate-focused economy, which is critical to the district's overall economic performance.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be a delay in observing the most recent economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in the District of Columbia (DCFININSREALNGSP), retrieved from FRED.