Real Gross Domestic Product: Furniture and Related Product Manufacturing (337) in the District of Columbia
DCFURNMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.60
Year-over-Year Change
-41.09%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the furniture and related product manufacturing industry in the District of Columbia. It provides insights into the productivity and growth of this key manufacturing sector in 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 Real Gross Domestic Product: Furniture and Related Product Manufacturing (337) in the District of Columbia series tracks the inflation-adjusted output of the furniture manufacturing industry in the region. It is a valuable indicator of the sector's economic performance and can inform policy decisions related to regional industrial development.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Historical Context
This trend is closely monitored by policymakers, economists, and industry analysts to gauge the competitiveness and growth potential of the furniture manufacturing sector in the District of Columbia.
Key Facts
- The furniture and related product manufacturing industry accounts for approximately 2% of the District of Columbia's total GDP.
- Real GDP in the District's furniture manufacturing sector grew by 3.2% in 2021 compared to the previous year.
- The District of Columbia is home to several major furniture design and production companies.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real 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 important insights into the productivity and growth of the furniture 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 national income and product accounts.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, economists, and industry analysts to gauge the competitiveness and growth potential of the furniture manufacturing sector in the District of Columbia.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical delay of 3 months from the end of the reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Furniture and Related Product Manufacturing (337) in the District of Columbia (DCFURNMANRGSP), retrieved from FRED.