Real Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in the District of Columbia
DCFININSREALRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18,929.20
Year-over-Year Change
20.97%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product (GDP) for the Finance, Insurance, Real Estate, Rental, and Leasing (FIRE) sector in the District of Columbia measures the total economic output of these industries, adjusted for inflation.
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 FIRE sector GDP trend provides valuable insights into the performance and contribution of the District's financial, real estate, and related service industries. Economists and policymakers analyze this data to understand the economic dynamics and growth drivers in the region.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government and private data sources.
Historical Context
Trends in FIRE sector GDP are closely monitored by financial institutions, investors, and economic development agencies.
Key Facts
- The FIRE sector accounts for over 40% of Washington, D.C.'s GDP.
- Real FIRE GDP has grown by an average of 2.5% annually over the past decade.
- The District has a higher concentration of FIRE sector jobs than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the Finance, Insurance, Real Estate, Rental, and Leasing (FIRE) sector in the District of Columbia, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: The FIRE sector GDP trend provides valuable insights into the performance and growth of the District's financial, real estate, and related service industries, which are critical drivers of the local economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government and private data sources.
Q: How is this trend used in economic policy?
A: Trends in FIRE sector GDP are closely monitored by financial institutions, investors, and economic development agencies to understand the economic dynamics and growth drivers in the District of Columbia.
Q: Are there update delays or limitations?
A: The FIRE sector GDP data is released quarterly by the Bureau of Economic Analysis, with a typical lag of 2-3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in the District of Columbia (DCFININSREALRGSP), retrieved from FRED.