Chain-Type Quantity Index for Real GDP: Food Services and Drinking Places (722) in the District of Columbia
DCFOODDPQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
102.26
Year-over-Year Change
30.17%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Food Services and Drinking Places (722) in the District of Columbia measures the inflation-adjusted output of the food services and drinking places industry in DC. This economic indicator is important for understanding the health and trends in the local hospitality 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 real, inflation-adjusted output of the food services and drinking places industry in the District of Columbia. It is a useful indicator of consumer demand and economic activity in the local hospitality and leisure sector.
Methodology
The data is calculated using the chain-type quantity index method from the U.S. Bureau of Economic Analysis.
Historical Context
This metric provides insights into the District of Columbia's service-based economy and consumer spending patterns.
Key Facts
- The index uses 2012 as the base year.
- Food services and drinking places account for over 3% of DC's total GDP.
- The index has shown steady growth since the early 2010s.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the food services and drinking places industry in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer demand and economic activity in DC's local hospitality and leisure sector.
Q: How is this data collected or calculated?
A: The data is calculated using the chain-type quantity index method from the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This index is used by economists and policymakers to monitor consumer spending patterns and the health of the service-based economy in the District of Columbia.
Q: Are there update delays or limitations?
A: The data is published quarterly by the Federal Reserve with a 1-2 month lag.
Related Trends
Gross Domestic Product: Paper Manufacturing (322) in the District of Columbia
DCPAPMANNGSP
Real Gross Domestic Product: Miscellaneous Professional, Scientific, and Technical Services (5412-5414, 5416-5419) in the District of Columbia
DCMISCPRORGSP
Electric Power Carbon Dioxide Emissions, Coal for District of Columbia
EMISSCO2TOTVECCODCA
Average Weekly Earnings of All Employees: Professional and Business Services in the District of Columbia
SMU11000006000000011A
Value of Exports to Hungary from District of Columbia
DCHUNA052SCEN
Number of Civilians Unemployed for 15 Weeks or Longer for the District of Columbia
UNEMP15DC
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Food Services and Drinking Places (722) in the District of Columbia (DCFOODDPQGSP), retrieved from FRED.