Gross Domestic Product: Furniture and Related Product Manufacturing (337) in the District of Columbia
DCFURNMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10.80
Year-over-Year Change
-7.69%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the gross domestic product (GDP) of the furniture and related product manufacturing industry in the District of Columbia. It provides insights into the economic performance and contribution of this specific manufacturing sector within 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: Furniture and Related Product Manufacturing (337) in the District of Columbia is an economic indicator that tracks the total value of goods and services produced by this industry within the District's borders. It is used by economists and policymakers to analyze the health and trends of this manufacturing segment and its impact on the broader local 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 can inform economic and industry-specific policies, as well as investment and business decisions related to the furniture manufacturing sector in the District of Columbia.
Key Facts
- The furniture and related product manufacturing industry accounts for a small but important part of the District of Columbia's economy.
- This trend has shown moderate fluctuations over the past decade, reflecting the overall economic conditions in the region.
- The District of Columbia's furniture manufacturing sector is closely tied to the local construction and real estate industries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the furniture and related product manufacturing industry in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and contribution of the furniture manufacturing industry within the District of Columbia, which can inform economic and industry-specific policies, as well as investment and business decisions.
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 can inform economic and industry-specific policies, as well as investment and business decisions related to the furniture manufacturing sector in the District of Columbia.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedules and potential limitations as other GDP-related statistics produced by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Furniture and Related Product Manufacturing (337) in the District of Columbia (DCFURNMANNGSP), retrieved from FRED.