Chain-Type Quantity Index for Real GDP: Food and Beverage and Tobacco Product Manufacturing (311-312) in the District of Columbia
DCFOODBEVTOBMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
95.90
Year-over-Year Change
18.61%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP measures the inflation-adjusted output of the food, beverage, and tobacco manufacturing industries in the District of Columbia. This metric provides insight into the productivity and growth of this key economic sector.
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 the volume of real (inflation-adjusted) gross domestic product (GDP) generated by food, beverage, and tobacco manufacturers in the District of Columbia. It is used by policymakers and analysts to gauge the health and performance of this industry within the local economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production data and price indices.
Historical Context
Trends in this index are relevant for understanding consumer demand, industry competitiveness, and the broader economic conditions in the District of Columbia.
Key Facts
- The base year for this index is 2012.
- Food and beverage manufacturing accounts for over 10% of DC's GDP.
- The index experienced a sharp decline during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted output of the food, beverage, and tobacco manufacturing industries in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: Trends in this index provide insight into the productivity and growth of a key economic sector in DC, which is relevant for policymakers and industry analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using production data and price indices.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to assess the health and performance of the food, beverage, and tobacco manufacturing industry in the District of Columbia, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is subject to revision and may have a lag of several months between the reference period and publication.
Related Trends
Chain-Type Quantity Index for Real GDP: Information (51) in the District of Columbia
DCINFOQGSP
Real Gross Domestic Product: Miscellaneous Professional, Scientific, and Technical Services (5412-5414, 5416-5419) in the District of Columbia
DCMISCPRORGSP
Coefficient for Transportation Carbon Dioxide Emissions, Jet Fuel for District of Columbia
EMISSCO2CJFACBDCA
Gross Domestic Product: Natural Resources and Mining (11, 21) in the District of Columbia
DCNATRESMINNGSP
Number of Identified Exporters to Austria from District of Columbia
DCAUTA475SCEN
Employed Involuntary Part-Time for the District of Columbia
INVOLPTEMPDC
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Food and Beverage and Tobacco Product Manufacturing (311-312) in the District of Columbia (DCFOODBEVTOBMANQGSP), retrieved from FRED.