Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in the District of Columbia
DCFOODBEVTOBMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34.40
Year-over-Year Change
62.26%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) from the food, beverage, and tobacco product manufacturing industries in the District of Columbia. It provides insight into the performance and contribution of this key sector to 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 Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in the District of Columbia series tracks the total economic output from these manufacturing industries within the District. It is an important indicator for understanding the state of the local food and beverage production economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is closely monitored by policymakers, industry analysts, and economists to assess the District's economic conditions and competitiveness.
Key Facts
- The District of Columbia's food and beverage manufacturing GDP was $462 million in 2021.
- This sector accounts for approximately 1.4% of the District's total GDP.
- The food and beverage industry employs over 2,000 workers in the District.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contribution from the food, beverage, and tobacco product manufacturing industries within the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and economic significance of the food and beverage manufacturing sector in the District of Columbia, which is a key component of the local economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, industry analysts, and economists to assess the District's economic conditions and competitiveness in the food and beverage manufacturing sector.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in the District of Columbia (DCFOODBEVTOBMANNGSP), retrieved from FRED.